Company: DAAQ
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001213900-25-027285
Chunk: 222

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-01
Form: S-1/A
Chunk 222
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 escrow account are returned to investors. |

148

|                                                                                     |     | Terms of Our Offering                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |     | Terms Under a Rule 419 Offering                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                     |     | expenses), divided by the number of then issued and outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |     |                                                                                                                                                                                                                                                                                                                                                                                       |
| Release of funds:                                                                   |     | None of the funds held in trust (other than interest earned thereon to cover taxes paid or payable, up to $100,000 of interest to pay liquidation expenses and permitted withdrawals) will be released from the trust account until the earliest of (i) the completion of our initial business combination, (ii) the redemption of our public shares if we are unable to complete our initial business combination within the completion window, subject to applicable law, or (iii) the redemption of our public shares properly submitted in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination within the completion window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity. |     | The proceeds held in the escrow account are not released until the earlier of the completion of a business combination or the failure to effect a business combination within the allotted time.                                                                                                                                                                                      |
| Delivering share certificates in connection with the exercise of redemption rights: |     | We intend to require our public shareholders seeking to exercise their redemption rights, whether they are record holders or hold their shares in “street name,” to, at the holder’s option, either deliver their share certificates to our transfer agent or deliver their shares to our transfer agent electronically using the Depository Trust Company’s DWAC (Deposit/Withdrawal At Custodian) system, prior to the date set forth in the proxy materials or tender offer documents, as applicable. In the case                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |     | Many blank check companies provide that a shareholder can vote against a proposed business combination and check a box on the proxy card