Company: DAAQ
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001213900-25-031293
Chunk: 156

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-14
Form: S-1/A
Chunk 156
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 for post -closingworking capital expenses. (3)The underwriters have agreed to defer underwriting commissions equal to up to 4.0% of the gross proceeds of this offering, or $6,000,000 in the aggregate, (or up to $6,900,000 if the over -allotmentoption is exercised in full) payable to the underwriters in this offering. Upon completion of our initial business combination, up to $6,000,000 in the aggregate, (or up to $6,900,000 if the over -allotmentoption is exercised in full) which constitutes the deferred underwriting commissions will be paid to the underwriters from the remaining cash held in the Company’s trust account at the closing of the initial business combination, but any such amounts shall be due solely on amounts remaining in the trust account following all properly submitted shareholder redemptions in connection with the consummation of our initial business combination. The remaining

101 funds will be released to us and can be used to pay all or a portion of the purchase price of the business or businesses with which our initial business combination occurs or for general corporate purposes, including payment of principal or interest on indebtedness incurred in connection with our initial business combination, to fund the purchases of other companies, or for working capital. The underwriters will not be entitled to any interest accrued on the deferred underwriting discounts and commissions. (4)These expenses are estimates only. Our actual expenditures for some or all of these items may differ from the estimates set forth herein. For example, we may incur greater legal and accounting expenses than our current estimates in connection with negotiating and structuring our initial business combination based upon the level of complexity of such business combination. In the event we identify a business combination target in a specific industry subject to specific regulations, we may incur additional expenses associated with legal due diligence and the engagement of special legal counsel. In addition, our staffing needs may vary and as a result, we may engage a number of consultants to assist with legal and financial due diligence. We do not anticipate any change in our intended use of proceeds, other than fluctuations among the current categories of allocated expenses, which fluctuations, to the extent they exceed current estimates for any specific category of expenses, would not be available for our expenses. (5)The estimate for administrative support is for twenty -four(24) months. Nasdaq rules provide that at least 90% of the gross proceeds from this offering and the sale of the private placement warrants be deposited in