secwatch.observer — SEC 8-K summary
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Issuer:     Compass Digital Acquisition Corp. (CDAQF)
CIK:        0001851909
Form:       8-K
Filed at:   2024-09-11T23:59:59+00:00
Accession:  0001493152-24-035829
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Compass Digital to merge with EEW Renewables in $300M SPAC business combination
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- Base consideration $300M paid in Pubco ordinary shares valued at $10.00 each.
- Sellers eligible for up to 4.2M additional Earnout Shares on VWAP thresholds ($11/$12) or FY2025 EBITDA ≥ $41.9M.
- Minimum cash condition: $15M at Closing (including trust) or $25M with post-close Additional Capital.
- Outside date Jan 19, 2025, extendable monthly up to 3 months; PCAOB audits due by Oct 31, 2024.
- Post-closing Pubco board: 5-7 directors, majority independent, with staggered three-year terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851909/000149315224035829/0001493152-24-035829-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851909/000149315224035829/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-035829

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