Compass Digital Acquisition in an 8-K said it has signed a term sheet to sell the sponsor’s interests to HCG Opportunity, which will acquire 3,093,036 Class B shares and 3 million private placement warrants. HCG will also appoint a new team of directors and officers.
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. The trust now stands at nearly $222 million.
The new executives include Daniel Hennessy – Chairman, Thomas Hennessy – CEO and director, Nick Geeza – CFO, Kirk Hovde – independent director, Matt Schindel – independent director and Joseph Beck – independent director.
Daniel Hennessy is a SPAC veteran, having overseen six blank-check companies in the last nine years. Read more.
