Company: CDAQF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023544
Chunk: 39

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 39
---
 of the Combination Period from July 19, 2024 to December 19, 2024 and (ii) 82,498 Founder Shares per month, for each
month of the extension of the Combination Period from December 19, 2024 until April 19, 2025, as needed. The Founder Shares to be transferred
to such investors pursuant to the 2024 Non-Redemption Agreements are held by the Sponsor and are to be transferred in connection with
the closing of the Business Combination. In connection with its entry into the 2024 Non-Redemption Agreements, the Company agreed that,
in the event of the liquidation of the Trust Account, it will only utilize up to $50,000 of funds from the accrued interest of the Trust
Account to pay any dissolution expenses if it does not effect a Business Combination prior to the end of the Combination Period. As of
July 15, 2024, the Company estimated the aggregate fair value of these 742,490 Founder Shares at $4,076,270, or approximately $5.49 per
share on a weighted-average basis.

On
May 8, 2025, the Company entered into a non-redemption agreement (the “2025 Non-Redemption Agreements”) with the Sponsor
and an unaffiliated, third-party investor in exchange for such investor agreeing not to redeem 100,000 Public Shares in connection with
the vote to approve the 2025 Extension Amendment Proposal at the 2025 EGM. In exchange for the commitment not to redeem the 100,000 Public
Shares, the Sponsor agreed to transfer to such investor (i) 20,000 Founder Shares held by the Sponsor and (ii) if the initial Business Combination is not completed by October 19, 2025, an additional 20,000 Founder Shares held by the Sponsor. As of May 8, 2025, the Company
estimated the aggregate fair value of these 40,000 Founder Shares at $223,000, or approximately $5.56 per share on a weighted-average
basis. As of June 30, 2025, pursuant to the various non-redemption agreements, the Sponsor has agreed to transfer 782,490 Class B Ordinary
Shares to certain investors on or promptly after the consummation of the Business Combination.

As
of June 30, 2025 and December 31, 2024, the Company estimated the aggregate fair value of these