Company: DAAQ
Filing Date: 2025-04-23
Form Type: S-1/A
Source: 0001213900-25-034368
Chunk: 362

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-23
Form: S-1/A
Chunk 362
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 a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors. Our officers and directors have agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account, and have agreed to waive any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us and will not seek recourse against the trust account for any reason whatsoever (except to the extent they are entitled to funds from the trust account due to their ownership of public shares). Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Item 15. Recent Sales of Unregistered Securities . On December 11, 2024, DAAQ Sponsor LLC, our sponsor, paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs in exchange for 5,750,000 Class B ordinary shares. In January 2025, our sponsor transferred 25,000 Class B ordinary shares to each of our independent director nominees (for an aggregate of 75,000 Class B ordinary shares) and 10,000 Class B ordinary shares to each of our advisors (for an aggregate of 40,000 Class B ordinary shares) at the same per -shareprice that our sponsor purchased such shares, or approximately $0.004 per share, resulting in our sponsor holding 5,635,000 founder shares. Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 17,250,000 units if the underwriters’ over -allotmentoption is exercised in full and therefore that such founder shares would represent 25% of the outstanding shares after this offering. Up to 750,000 of these shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -