Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 52

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 2
Chunk 52
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 Underwriters a 45-day option to purchase up to 2,250,000 additional Units to cover over-allotments at the Initial
Public Offering price, less the underwriting commissions. Simultaneously with the closing of the Initial Public Offering, the Underwriters
elected to fully exercise the over-allotment option to purchase the additional 2,250,000 Units at a price of $10.00 per Unit.

The
Underwriters were entitled to (1) an underwriting discount of $0.20 per Unit, or $3,450,000 in the aggregate, of which (i) $0.10 per
Unit was paid to the Underwriters in cash at the closing of the Initial Public Offering and (ii) $0.10 per Unit was used by the Underwriters
to purchase Private Placement Warrants, and (2) a deferred fee of $0.40 per Unit, or $6,900,000. The deferred fee will become payable
to the Underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination,
subject to the terms of the underwriting agreement, and will be based on the amount of funds remaining in the Trust Account after shareholder
redemptions of Public Shares in connection with the consummation of a Business Combination.

Critical
Accounting Estimates

The
                                            preparation of condensed financial statements and related disclosures in conformity with
                                            accounting principles generally accepted in the United States of America requires management
                                            to make estimates and assumptions that affect the reported amounts of assets and liabilities,
                                            disclosure of contingent assets and liabilities at the date of the financial statements,
                                            and income and expenses during the periods reported. Actual results could materially differ
                                            from those estimates. We have identified the following critical accounting estimates that
                                            are most critical to the portrayal of our financial condition and results of operations and
                                            that require significant, difficult, subjective, or complex judgements:

Net
Income Per Share

Net
income per ordinary share is computed by dividing net income by the weighted average number of ordinary shares outstanding during the
period. The calculation of diluted income per share does not consider the effect of the warrants issued in connection with the Initial
Public Offering since the exercise of the warrants are contingent upon the occurrence of future events. The Company has two classes of
ordinary shares, which are referred to as redeemable Class A ordinary shares and Class B ordinary shares. Accretion associated with the
redeemable shares of Class A