secwatch.observer — SEC 8-K summary
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Issuer:     Compass Digital Acquisition Corp. (CDAQF)
CIK:        0001851909
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0001493152-24-047164
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Compass Digital enters up to $2.5M promissory note with sponsor for working capital
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- Note principal up to $2.5M; $415K already advanced by sponsor HCG Opportunity, LLC.
- Note bears no interest; repayable upon business combination or company liquidation.
- Up to $1.375M of unpaid principal may convert into warrants at $1.50 per warrant, identical to IPO private-placement warrants.
- Funds used for working capital expenses prior to initial business combination.
- Conversion warrants carry registration rights under existing Registration Rights Agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851909/000149315224047164/0001493152-24-047164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851909/000149315224047164/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-047164

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer