Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 560

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 2
Chunk 560
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, 2021 or the completion of our Initial
Public Offering. The loans of $195,000 were fully repaid upon the consummation of our Initial Public Offering on October 19, 2021.

Our
Legacy Sponsor committed, pursuant to a written agreement, to purchase an aggregate of 4,666,667 Private Placement Warrants (or 5,066,667
Private Placement Warrants if the Over-Allotment Option was exercised in full), each exercisable to purchase one Class A Ordinary Share
at $11.50 per share, at a price of $1.50 per whole Private Placement Warrant, or $7,000,000 in the aggregate (or $7,600,000 if the Over-Allotment
Option was exercised in full), in the Private Placement, which occurred concurrently with the closing of the Initial Public Offering.
On November 30, 2021, the underwriters of the Initial Public Offering purchased an additional 1,240,488 Over-Allotment Units pursuant
to the partial exercise of the Over-Allotment Option. The Over-Allotment Units were sold at an offering price of $10.00 per Over-Allotment
Unit, generating aggregate additional gross proceeds of $12,404,880.

On
November 30, 2021, in connection with the partial exercise of the Over-Allotment Option, our Legacy Sponsor surrendered 439,878 Founder
Shares. Also, in connection with the partial exercise of the Over-Allotment Option, the Legacy Sponsor purchased an additional 165,398
Private Placement Warrants at a purchase price of $1.50 per whole Private Placement Warrant. The Private Placement Warrants are identical
to the Public Warrants sold in the Initial Public Offering, except that the Private Placement Warrants, so long as they are held by our
Legacy Sponsor or its permitted transferees, (i) will not be redeemable by us, (ii) may not (including the Class A Ordinary Shares issuable
upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders
until 30 days after the completion of our initial Business Combination, (iii) may be exercised by the holders on a cashless basis and
(iv) are entitled to registration rights. The Private Placement Warrants may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder. If we