Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 195

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 195
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 30, 2025, net cash used in operating activities was $158,436.
                                            Net income of $974,692 was adjusted for earnings on marketable securities in our Trust Account
                                            of $1,164,886 and operating expenses paid via promissory note - related party of $112,848.
                                            Changes in operating assets and liabilities provided $27,946 of cash for operating activities
                                            primarily due to primarily due to increases in accrued expenses and due to related party,
                                            offset by an increase in prepaid insurance.

For
the six-month period ended June 30, 2025, net cash provided by financing activities was $172,500,000, which was due to proceeds from
the sale of Units (as defined below), Private Placement Warrants (as defined below) and public warrants issued as part of the Units.

For
the six-month period ended June 30, 2025, net cash used by financing activities was $172,387,152, which was due to proceeds from
the sale of Units (as defined below), Private Placement Warrants (as defined below) and public warrants issued as part of the Units.

The
Company’s Initial Public
Offering was declared effective on April 28, 2025. On April 30, 2025,
the Company consummated the Initial Public Offering of 17,250,000 units, (the “Units”
and, with respect to the shares of Class A ordinary shares included in the Units sold, the
“Public Shares”), including 2,250,000 Units issued pursuant to the exercise
of the Underwriters’ (as defined below) over-allotment option in full, generating gross proceeds of $172,500,000.

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 5,450,000 warrants at a price of $1.00 per warrant
(the “Private Placement Warrants”), generating gross proceeds of $5,450,000. Of the 5,450,000 Private Placement Warrants,
the underwriters of the Initial Public Offering (the “Underwriters”) purchased an aggregate of 1,725,000 Private Placement
Warrants and DAAQ Sponsor LLC, the Company’s sponsor (the “Sponsor”), purchased 3,725,000 Private Placement Warrants.

Following
the closing of the Initial Public Offering on April 30, 2025, an amount of $172,500,