Company: DAAQ
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001213900-25-053846
Chunk: 15

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Item 8
Chunk 15
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 of Founder Shares have the same shareholder rights as Public Shareholders, except that (i) the Founder Shares are subject
to certain transfer restrictions, as described in more detail below, (ii) the Founder Shares are entitled to registration rights, (iii)
the Company’s Sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have
agreed to (A) waive their redemption rights with respect to their Founder Shares and Public Shares in connection with the completion of
the Company’s initial Business Combination, (B) waive their redemption rights with respect to their Founder Shares and Public Shares
in connection with a shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association
(1) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial
Business Combination or to redeem 100% of the Company’s Public Shares if the Company has not consummated an initial Business Combination
within the Combination Period, (2) with respect to any other material provisions relating to shareholders’ rights or pre-initial
Business Combination activity, (3) waive their rights to liquidating distributions from the Trust Account with respect to their Founder
Shares if the Company fails to complete the Company’s initial Business Combination within the Combination Period, although they
will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company fails
to complete the initial Business Combination within such time period and to liquidating distributions from assets outside the Trust Account
and (4) vote any Founder Shares held by them and any Public Shares purchased during or after the Initial Public Offering (including in
open market and privately negotiated transactions) in favor of the initial Business Combination (including any proposals recommended by
the Company’s board of directors in connection with such Business Combination) (except with respect to any Public Shares which may
not be voted in favor of approving the Business Combination transaction in accordance with the requirements of Rule 14e-5 under the Exchange
Act and any SEC interpretations or guidance relating thereto), (iv) the Founder Shares are automatically convertible into Class A ordinary
shares immediately prior to, concurrently with or immediately following the consummation of the Company’s initial Business Combination
or at any time prior thereto at the option of the holder on a one-for-one basis, subject to adjustment as described herein and in the
Amended and Restated Memorandum and Articles of Association, and (v) prior to