Company: DAAQ
Filing Date: 2025-02-07
Form Type: S-1
Source: 0001213900-25-011355
Chunk: 346

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-02-07
Form: S-1
Chunk 346
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 exchange their Class A ordinary shares for cash, securities or other property. Up to 750,000 Founder Shares will be surrendered to the Company for no consideration depending on the exercise of the over -allotmentoption. Promissory Note — Related Party On December 11, 2024, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Proposed Offering pursuant to a promissory note (the “Promissory Note”). This loan is non -interestbearing and payable on the earlier of December 31, 2025 or the date on which the Company consummates the Proposed Offering of its securities. On December 31, 2024, the Company had $0 outstanding under the Promissory Note. Due to Related Party The Company’s Sponsor has agreed to pay operating expenses related to the initial public offering. These include legal fees, mailing, and shipping expenses. F-13 DIGITAL ASSET ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2024 NOTE 5. RELATED PARTY TRANSACTIONS (cont.) Administrative Support Agreement The Company’s Sponsor has agreed, commencing from the date of the Proposed Offering through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space, utilities and administrative services, as the Company may require from time to time. The Company has agreed to pay to the Sponsor $20,000 per month for these services during the 24 -monthperiod to complete a Business Combination. Related Party Loans In order to finance transaction costs in connection with the initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes the initial Business Combination, the Company will repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts, including the repayment of loans from the Sponsor to pay for any amount deposited to pay for any extension of the time to complete the initial Business Combination, but no proceeds from the Trust Account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into Units, at a price of $10.00 per Unit at the option of the lender,