Compass Digital Acquisition filed a proxy and said it will ask shareholders to approve an extension to Dec. 19 and continuing on a monthly basis up to April 2025, if necessary, without another shareholder vote.

Compass Digital last year signed a term sheet to sell the sponsor's interests to HCG Opportunity, which was set to acquire 3,093,036 Class B shares and 3 million private placement warrants. HCG also appointed a new team of directors and officers.

The new executives include Chairman daniel hennessy, a SPAC veteran who has overseen six blank-check companies in the last nine years.

Compass raised $200 million in an October 2021 IPO with plans to focus on businesses in the technology sector, including in the technology-led digital transformation software and services sector.

Currently there are 5,794,628 Class A shares and 4,710,122 Class B shares issued and outstanding. Read more.

Source: Compass Digital Acquisition Proposes up to 9-Month Extension