Digital Asset Acquisition Corp. filings document the company's status as a special purpose acquisition company and its related public-company disclosure obligations. The record includes Form 8-K material-event reports covering material agreements, shareholder voting matters, governance matters, risk factors, capital-structure disclosures, and SPAC security-structure topics.
These disclosures describe the formal agreements, voting mechanics, operating and financial information, and risk considerations that accompany DAAQ's blank-check issuer structure and business-combination mandate.
Digital Asset Acquisition Corp. (“DAAQ”) and Old Glory Holding Company (“Old Glory Bank”) announced that they have entered into a definitive agreement for a proposed business combination. The deal would combine DAAQ, a Cayman Islands special purpose acquisition company, with Old Glory Bank, a Delaware bank holding company. DAAQ and Old Glory Bank have prepared an investor presentation about the transaction, which is furnished as an exhibit to this report.
The business combination will be submitted to DAAQ shareholders for approval after a registration statement on Form S-4, containing a proxy statement/prospectus, is declared effective by the SEC. DAAQ plans to mail a definitive proxy statement to shareholders of record for the meeting to vote on the business combination and related matters, and investors are directed to review these materials when available.
Digital Asset Acquisition Corp. (DAAQ) entered into a definitive Business Combination Agreement with Old Glory Holding Company, the bank holding company for Old Glory Bank. DAAQ will domesticate from the Cayman Islands to Texas and be renamed OGB Financial Company (“Pubco”), after which Old Glory Bank will merge into Pubco.
Old Glory Bank Class B shares are effectively valued off a $250.0 million equity value, with consideration paid in Pubco common stock at an implied $10.00 per share. Closing requires at least $50,000,000 of available cash from DAAQ’s trust and PIPE or other financing, multiple bank regulatory approvals, shareholder approvals and effective registration.
Sponsor and key Old Glory Bank shareholders signed support and lock-up agreements, generally restricting sales of Pubco stock for up to one year, subject to an early release if the share price trades at or above $12.00 for a sustained period. The deal can be terminated under customary conditions, including a May 31, 2026 outside date, and includes a potential $10.0 million Old Glory Bank share issuance to DAAQ if certain regulatory-related termination conditions are met.
Digital Asset Acquisition Corp. (DAAQ) filed its quarterly report, detailing SPAC-stage operations and cash held for a future merger. The company reported net income of $1,690,631 for the three months and $2,665,323 for the nine months ended September 30, 2025, driven by interest earned on funds in its trust.
Following its April 30, 2025 IPO, $172,500,000 was placed in a U.S. Treasury‑invested trust; the trust balance was $175,466,068 as of September 30, 2025. Class A ordinary shares are redeemable at $10.17 per share as of that date. The company has until October 30, 2026 (or January 30, 2027) to complete a business combination, after which liquidation would occur.
Operating cash was $1,149,892 at quarter‑end, with deferred underwriting fees of $6,900,000 payable only upon a completed merger. Management notes substantial doubt about going concern due to the mandatory liquidation deadline. As of November 14, 2025, there were 17,250,000 Class A and 5,750,000 Class B shares outstanding.