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. disclosed a proposed business combination with Old Glory Bank that would domesticate DAAQ from the Cayman Islands to Texas and change its name to OGB Financial Company. The transaction contemplates Old Glory Bank merging into the newly domiciled Pubco.
The filing notes that Peter Ort and Michael Sonnenshein intend to join Pubco’s board upon closing, subject to regulatory approval. DAAQ and Old Glory Bank intend to file a Form S-4 and submit the business combination to DAAQ shareholders for a vote; a press release is furnished as Exhibit 99.1.
Digital Asset Acquisition Corp. (DAAQ) filed an 8-K describing an update on its planned business combination with Old Glory Bank. Under the existing agreement, DAAQ will change its jurisdiction from the Cayman Islands to Texas, be renamed OGB Financial Company, and Old Glory Bank will merge into this new Texas corporation.
The filing furnishes a press release stating that senior finance executives Peter Ort and Michael Sonnenshein intend to join the OGB Financial Company board of directors after the business combination closes and subject to regulatory approval, including Federal Reserve review. The document also explains that DAAQ and Old Glory Bank will file a Form S-4 registration statement with the SEC, which will include a proxy statement/prospectus for DAAQ shareholders to vote on the transaction, and it highlights extensive forward-looking statement and risk-factor disclosures related to completing and realizing the benefits of the combination.
Digital Asset Acquisition Corp. (DAAQ) and Old Glory Bank have a previously announced business combination agreement that would create a new Texas corporation named OGB Financial Company, expected to be listed on Nasdaq. The transaction structure includes DAAQ changing its jurisdiction from the Cayman Islands to Texas and Old Glory Bank merging into the new Texas corporation, which will remain as the surviving public company.
Old Glory Bank has begun promoting the proposed deal to its community through social media posts and a short video, describing plans to go public on Nasdaq and to offer banking that integrates traditional services with crypto and decentralized finance themes. The companies plan to file a Form S-4 registration statement with the SEC, which will include a proxy statement/prospectus for DAAQ shareholders to vote on the transaction, and they highlight that the combination and its benefits are subject to shareholder approvals, regulatory requirements, listing standards, and various business and market risks.
Digital Asset Acquisition Corp. (DAAQ) outlines its planned business combination with Old Glory Bank, a Delaware bank holding company. Under the Business Combination Agreement, DAAQ will change its jurisdiction from the Cayman Islands to Texas, rename itself OGB Financial Company, and merge with Old Glory Bank, with the renamed entity continuing as the surviving public company.
The communication reproduces promotional posts by Old Glory Bank and co‑founder John Rich highlighting plans to integrate traditional banking with crypto and to list the combined company on Nasdaq in 2026. It also explains that a Form S‑4 registration statement with a proxy statement/prospectus will be filed for DAAQ shareholders to vote on the transaction, and stresses that many statements are forward‑looking and subject to significant risks, regulatory approvals, shareholder votes, and other conditions before the deal and listing can be completed.
Digital Asset Acquisition Corp. entered into a business combination agreement with Old Glory Holding Company, the parent of Old Glory Bank, to take the bank public through a de-SPAC transaction. As part of the deal, Digital Asset Acquisition Corp. will deregister as a Cayman Islands company and domesticate as a Texas corporation named OGB Financial Company, which will be the surviving public company after Old Glory Bank merges into it.
Old Glory Bank promotes this planned transaction as a way for everyday Americans to own stock in a values-focused bank, highlighting that it expects to be listed on Nasdaq and noting deposit growth of more than 2,000% in less than three years. The companies plan to file a Form S-4 registration statement with the SEC, including a proxy statement/prospectus for Digital Asset Acquisition Corp. shareholders to vote on the business combination and related matters.
Digital Asset Acquisition Corp. and Old Glory Bank plan a business combination that would take the digital‑first bank public at an implied pro forma equity value of $530.0M and enterprise value of $316.3M. The deal structure assumes $176.0M of SPAC trust cash, a targeted $50.0M PIPE and $250.0M of Old Glory equity rolled into the new company, with about $210.6M of cash expected on the balance sheet at closing in Q2 2026.
Old Glory Bank is an FDIC‑insured, Oklahoma‑based digital bank that launched nationally in 2023 and has grown deposits from $10mm in April 2023 to $247mm by December 2025, with over 83,000 deposit accounts and a low 0.86% cost of funds for Q3 2025. It targets pro‑America consumers, small businesses and “protectors,” and offers specialty products plus planned stablecoin and crypto‑backed credit integrations after regulatory and capital requirements are met.
The presentation highlights a May 1, 2024 FDIC and Oklahoma consent order that raised Old Glory’s Tier 1 leverage requirement to 14%, which management expects could move toward 8–9% after the transaction, and details extensive risks around funding needs, regulation, technology, redemptions, dilution and the possibility the combination may not close.
Digital Asset Acquisition Corp. (DAAQ) and Old Glory Bank describe their previously announced plan to combine into a new Texas corporation named OGB Financial Company, which is expected to be publicly listed on Nasdaq. The transaction involves DAAQ redomiciling from the Cayman Islands to Texas and Old Glory Bank merging into the new public company. Old Glory Bank tells customers that its products, services, leadership team, and board are expected to remain the same, while the combination is intended to provide additional capital to support growth. The companies explain that DAAQ shareholders will later receive a proxy statement/prospectus on Form S-4 and emphasize that closing depends on shareholder approvals and other conditions.
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.