Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 3

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 8
Chunk 3
---
andum
and Articles of Association”), conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission
(“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder
approval of the transaction is required by law, or the Company decides to obtain shareholder approval for business or other reasons,
the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the
tender offer rules. If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote
its Founder Shares (as defined in Note 6) and any Public Shares purchased during or after the Initial Public Offering in favor of approving
a Business Combination. Additionally, each Public Shareholder may elect to redeem their Public Shares irrespective of whether they vote
for or against the proposed transaction or do not vote at all.

Notwithstanding
the above, if the Company seeks shareholder approval of a Business Combination and the Company does not conduct redemptions pursuant
to the tender offer rules, the Amended and Restated Memorandum and Articles of Association provides that a Public Shareholder, together
with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group”
(as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted
from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior consent of the
Company.

The
Sponsor has agreed to waive redemption rights with respect to any Founder Shares held and any Public Shares they may have acquired during
or after the Initial Public Offering in connection with the completion of a Business Combination, except that Public Shares held by the
initial shareholders will be subject to mandatory redemption upon any diminution of the Trust Account in connection with an extension,
and such shares will be entitled to redemption at a price equal to the per share redemption value then held in the Trust Account in connection
therewith.

The
Company will have until October 30, 2026 (or January 30, 2027), 18 months from the closing of the Initial Public Offering (or
21 months from the closing of the Initial Public Offering if the Company has executed a definitive agreement for an initial Business
Combination within 18 months of the Initial Public Offering) to complete a Business Combination (the “