Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 31

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 8
Chunk 31
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 whole
                                            or in part, as consideration to complete our initial Business Combination, the remaining
                                            proceeds held in the Trust Account will be used as working capital to finance the operations
                                            of the target business or businesses, make other acquisitions and pursue our growth strategies.

After
                                            taking into consideration the consummation of the Initial Public Offering, we do not believe
                                            we will need to raise additional funds in order to meet the expenditures required for operating
                                            our business. However, if our estimates of the costs of identifying a target business, undertaking
                                            in-depth due diligence and negotiating an initial Business Combination are less than the
                                            actual amount necessary to do so, we may have insufficient funds available to operate our
                                            business prior to our initial Business Combination. Moreover, we may need to obtain additional
                                            financing either to complete our initial Business Combination or because we become obligated
                                            to redeem a significant number of our public shares upon completion of our initial Business
                                            Combination, in which case we may issue additional securities or incur debt in connection
                                            with such Business Combination.

Off-Balance
Sheet Arrangements

As
of June 30, 2025, we did not have any off-balance sheet arrangements.

Contractual
Obligations

Registration
Rights

The
holders of the (i) Class B ordinary shares, which were issued in a private placement prior to the closing of the Initial Public Offering
(the “Founder Shares”), (ii) Private Placement Warrants and the Class A ordinary shares underlying such Private Placement
Warrants and (iii) Private Placement Warrants that may be issued upon conversion of working capital loans will have registration rights
to require the Company to register a sale of any of the Company’s securities held by them and any other securities of the Company
acquired by them prior to the consummation of the Company’s initial Business Combination pursuant to a registration rights agreement
signed on the effective date of the Initial Public Offering. Pursuant to the registration rights agreement and assuming $1,500,000 of
working capital loans are converted into warrants, the Company will be obligated to register up to 12,700,000 Class A ordinary shares
and 6,500,000 warrants. The number of Class A ordinary shares includes (i) 5,750,000 Class A ordinary shares to be issued upon conversion
of the Founder Shares, (ii) 5,450,000 Class A ordinary shares underlying the Private Placement Warrants and (iii)