Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 72

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 72
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 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.

NOTE 8. SHAREHOLDERS’ EQUITY (DEFICIT)

Preference shares — The Company
is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share with such designations, voting and other rights
and preferences as may be determined from time to time by the Company’s board of directors. As of September 30, 2025 and December 31,
2024, there were no preference shares issued or outstanding.

Class A ordinary shares — The
Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class
A ordinary shares are entitled to one vote for each share. As of September 30, 2025, there were 17,250,000 Class A ordinary shares
issued and outstanding, including 17,250,000 Class A ordinary shares subject to possible redemption and classified as temporary equity.
As of December 31, 2024, there were no shares of Class A ordinary shares issued and outstanding.

Class B ordinary shares — The
Company is authorized to issue 50,000,000 shares of Class B ordinary shares with a par value of $0.0001 per share. Holders of Class B
ordinary shares are entitled to one vote for each share. As of September 30, 2025 and December 31, 2024, there were 5,750,000
Class B ordinary shares issued and outstanding.

Ordinary shareholders of record are entitled to
one vote for each share held on all matters to be voted on by shareholders. Except as described below, holders of Class A ordinary shares
and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s
shareholders except as required by law. Prior to the closing of the initial Business Combination, only holders of Class B ordinary shares
(i) will have the right to appoint and remove directors prior to or in connection with the completion of the initial Business Combination
and (ii) will be entitled to vote on continuing