Saba Capital Reports 4.22% Stake (1.32M) in Digital Asset Acquisition

Saba Capital Management, Saba Capital Management GP, LLC and Boaz R. Weinstein report beneficial ownership of 1,321,140 units of Digital Asset Acquisition Corp., representing 4.22% of the class.

Rhea-AI Filing Summary

Saba Capital Management, Saba Capital Management GP, LLC and Boaz R. Weinstein report beneficial ownership of 1,321,140 units of Digital Asset Acquisition Corp., representing 4.22% of the class. The filing states the percentage is calculated on 31,325,000 total outstanding units, comprised of 17,250,000 ordinary shares and 14,075,000 warrants.

The 1,321,140 reported units consist of 850,000 ordinary shares and 471,140 warrants. The filing discloses these holdings are held on behalf of funds and accounts advised by Saba Capital, which have the right to receive dividends and proceeds from sales. The reporting persons filed jointly and certify the securities were not acquired to change or influence control of the issuer.

Insights

Financial Analyst

TL;DR: Routine 13G/A discloses a modest 4.22% beneficial position of 1,321,140 units; no claim of control.

The statement reports a beneficial holding of 1,321,140 units, equal to 4.22% of the class based on 31,325,000 outstanding units. The filing itemizes the holding as 850,000 ordinary shares and 471,140 warrants and notes these are held on behalf of funds and accounts advised by Saba Capital. The reporting persons expressly certify the securities were not acquired to effect a change in control. Given the reported percentage is below 5%, this filing functions as a routine ownership disclosure rather than a change-in-control signal.

Corporate Governance Expert

TL;DR: Joint filing and certification show standard disclosure practice; holdings reported as adviser-controlled, not for control purposes.

The document reflects a joint filing by Saba Capital, its GP and Boaz R. Weinstein and details beneficial ownership of 1,321,140 units (4.22%). It states the holdings are on behalf of funds and accounts advised by Saba Capital and confirms the right to receive dividends and sale proceeds. The filing includes a certification that the securities were not acquired to change or influence issuer control and includes authorized signatories acting under authority to file on behalf of the reporting persons. This is consistent with routine 13G/A disclosure expectations for advisory-held positions below 5%.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who filed the Schedule 13G/A for DAAQU?

The filing was made by Saba Capital Management, L.P., Saba Capital Management GP, LLC and Boaz R. Weinstein as the reporting persons.

How many DAAQU units does Saba report beneficially owning?

The reporting persons disclose beneficial ownership of 1,321,140 units, representing 4.22% of the class.

What is the composition of the 1,321,140 units reported?

Rows cited in the filing show the amount includes 850,000 ordinary shares and 471,140 warrants.

What basis was used to calculate the 4.22% ownership for DAAQU?

The percentage is calculated on 31,325,000 total outstanding units, comprising 17,250,000 ordinary shares and 14,075,000 warrants, as stated in the filing.

Were the securities acquired to influence control of Digital Asset Acquisition Corp.?

The filing includes a certification stating the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/14/2025 - 12:55 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Digital Asset Acquisition Corp.

(Name of Issuer)

Common Shares, $0.0001 par value and Warrants

(Title of Class of Securities)

G2868C129

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G2868C129

1

Names of Reporting Persons

Saba Capital Management, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,321,140.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,321,140.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,321,140.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.22 %

12

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person: The percentages used herein are calculated based upon 31,325,000 shares outstanding as of June 12, 2025, which includes (i) 17,250,000 Ordinary Shares and (ii) 14,075,000 Warrants, as disclosed in the company's 10-Q filed 6/12/25. Rows 6, 8 and 9 include (i) 850,000 ordinary shares, par value $0.0001 per share and (ii) 471,140 Warrants.

SCHEDULE 13G

CUSIP No. G2868C129

1

Names of Reporting Persons

Boaz R. Weinstein

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,321,140.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,321,140.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,321,140.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.22 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentages used herein are calculated based upon 31,325,000 shares outstanding as of June 12, 2025, which includes (i) 17,250,000 Ordinary Shares and (ii) 14,075,000 Warrants, as disclosed in the company's 10-Q filed 6/12/25. Rows 6, 8 and 9 include (i) 850,000 ordinary shares, par value $0.0001 per share and (ii) 471,140 Warrants.

SCHEDULE 13G

CUSIP No. G2868C129

1

Names of Reporting Persons

Saba Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,321,140.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,321,140.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,321,140.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.22 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentages used herein are calculated based upon 31,325,000 shares outstanding as of June 12, 2025, which includes (i) 17,250,000 Ordinary Shares and (ii) 14,075,000 Warrants, as disclosed in the company's 10-Q filed 6/12/25. Rows 6, 8 and 9 include (i) 850,000 ordinary shares, par value $0.0001 per share and (ii) 471,140 Warrants.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Digital Asset Acquisition Corp.
(b)	Address of issuer's principal executive offices: 174 Nassau Street, Suite 2100, Princeton, NEW JERSEY 08542
Item 2.
(a)	Name of person filing: Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"), Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"), and Mr. Boaz R. Weinstein (together, the "Reporting Persons"). The Reporting Persons have entered into a Joint Filing Agreement, dated May 5, 2025, pursuant to which the Reporting Persons have agreed to file this statement and any subsequent amendments hereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any of the forgoing persons or the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)	Citizenship: Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
(d)	Title of class of securities: Common Shares, $0.0001 par value and Warrants
(e)	CUSIP No.: G2868C129
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(b)	Percent of class: Not Applicable.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Not Applicable.
	(ii) Shared power to vote or to direct the vote: Not Applicable.
	(iii) Sole power to dispose or to direct the disposition of: Not Applicable.
	(iv) Shared power to dispose or to direct the disposition of: Not Applicable.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	08/13/2025

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	08/13/2025

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	08/13/2025

Comments accompanying signature: *** Pursuant to a Power of Attorney dated as of November 16, 2015