Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 187

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 187
---
 30, 2025, simultaneously with the closing of the Initial Public Offering,
the Underwriters elected to fully exercise the over-allotment option to purchase the additional 2,250,000 Units at a price of $10.00
per Unit.

The
Underwriters were entitled to (1) an underwriting discount of $0.20 per Unit, or $3,450,000 in the aggregate, of which (i) $0.10 per
Unit was paid to the Underwriters in cash at the closing of the Initial Public Offering and (ii) $0.10 per Unit was used by the Underwriters
to purchase Private Placement Warrants, and (2) a deferred fee of $0.40 per Unit, or $6,900,000. The deferred fee will become payable
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.

14

DIGITAL
ASSET ACQUISITION CORP. 

JUNE
30, 2025

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

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 June 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 June 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