secwatch.observer — SEC 8-K summary
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Issuer:     Compass Digital Acquisition Corp. (CDAQF)
CIK:        0001851909
Form:       8-K
Filed at:   2022-01-05T23:59:59+00:00
Accession:  0001213900-22-000733
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Compass Digital Acquisition Corp. issues up to $1M promissory note to affiliate for working capital
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- Principal amount up to $1,000,000, non-interest bearing, payable upon business combination.
- Initial drawdown of $60,000 on Dec 30, 2021.
- Unpaid balance convertible into warrants at $1.50 per warrant, identical to existing private placement warrants.
- Note issued to YAS International LLC (d/b/a Gupta Capital Group), an affiliate of sponsor Compass Digital SPAC LLC.
- Waives claims against trust account; repayment from trust proceeds only upon business combination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851909/000121390022000733/0001213900-22-000733-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851909/000121390022000733/ea153539-8k_compassdigi.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-000733

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