Company: CDAQF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021994
Chunk: 79

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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, consisting of $4,000,000 of underwriting fees, $7,000,000 of deferred underwriting fees and $929,189 of
other offering costs. Of these transaction fees, the Company subsequently obtained a discount related to the underwriter fees of $199,999
and expensed $631,124 related to the allocation of offering costs and Founder Shares to Warrant expense. Other non-cash transaction costs
include the fair value in excess of consideration of $10,414,655 in relation to Founder Shares purchased by Institutional Anchor Investors.
Subsequent to the Initial Public Offering close, there was an additional $676,712 in related transaction offering costs incurred, of
which $37,917 related to the allocation of offering costs and Founder Shares to Warrant expense in 2021.

Following
the closing of the Initial Public Offering on October 19, 2021, an amount of $200,000,000 ($10.00 per Unit) from the net proceeds of
the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants in the Private Placement was placed
in a trust account located in the United States (the “Trust Account”) to be invested only in U.S. government treasury obligations
with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company
Act of 1940, as amended (the “Investment Company Act”), which invest only in direct U.S. government treasury obligations,
as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust
Account, as described below. On October 19, 2023, the Company instructed Continental Stock Transfer & Trust Company, the trustee
of the Trust Account (“Continental”), to liquidate the investments held in the Trust Account and instead to hold the funds
in the Trust Account in an interest-bearing demand deposit account at Citibank, N.A., with Continental continuing to act as trustee,
until the earlier of the consummation of the initial Business Combination or the Company’s liquidation. As a result, following
the liquidation of investments in the Trust Account, the remaining proceeds from the Initial Public Offering and Private Placement are
no longer invested in U.S. government securities or money market funds invested in U.S. government securities.

    5

COMPASS
DIGITAL ACQUISITION CORP.

NOTES