Compass Digital Acquisition Corp. (CDAQU) Prices $200M IPO


Compass Digital Acquisition Corp. (CDAQU) Prices $200M IPO

Oct 15, 2021 IPOs by Marlena Haddad

Compass Digital Acquisition Corp. announced the pricing of its $200 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CDAQU” Friday, October 15.

The new SPAC intends to partner with a technology-first IT and digital transformation software or services provider with a significant share of its customer base in developed markets. Compass Digital is led by CEO and Chairman Abidali Neemuchwala along with CFO Burhan Jaffer.

Total SPAC deal count for 2021 year-to-date is now 469. This offering is expected to close on Tuesday, October 19.

Citigroup and J.P. Morgan are acting as the joint book running managers for the offering with Ladenburg Thalman as co-manager. Davis Polk & Wardwell LLP is serving as Issuer’s Counsel with Simpson Thacher & Bartlett LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.