Company: DAAQ
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001213900-25-027285
Chunk: 348

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-01
Form: S-1/A
Chunk 348
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 that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non -cashgain or loss on the statement of operations. The warrants are not precluded from equity classification and will be accounted for as such on the date of issuance and each balance sheet date thereafter. Recent Accounting Standards In November 2023, the FASB issued ASU 2023 -07, “Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023 -07”). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. F-11

DIGITAL ASSET ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. The ASU is effective for fiscal years beginning after December15, 2023, and interim periods within fiscal years beginning after December15, 2024, with early adoption permitted. The Company adopted ASU 2023 -07on December9, 2024, the date of its incorporation. NOTE 3. PROPOSED OFFERING Pursuant to the Proposed Offering, the Company will offer for sale 15,000,000 Units (or 17,250,000 Units if the Underwriter’s over -allotmentoption is exercised in full) at a purchase price of $10.00 per Unit. Each Unit will consist of one Class A ordinary share and one - halfof one redeemable warrant (“Public Warrant”). Each whole Public Warrant will entitle the holder to purchase one Class A ordinary share