Company: DAAQ
Filing Date: 2025-02-07
Form Type: S-1
Source: 0001213900-25-011355
Chunk: 94

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-02-07
Form: S-1
Chunk 94
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 the extent to which the underwriters’ over -allotmentis exercised. The founder shares will be worthless if we do not complete an initial business combination, except to the extent they receive liquidating distributions from assets outside of the trust account. In addition, our sponsor and the underwriters have committed to purchase an aggregate of 5,000,000 private placement warrants (or 5,450,000 private placement warrants if the underwriters’ overallotment option is exercised in full), each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per warrant, or $5,000,000 in the aggregate (or $5,450,000 if the underwriters’ overallotment option is exercised in full), in a private placement that will close simultaneously with the closing of this offering. Of those 5,000,000 private placement warrants (or 5,450,000 private placement warrants if the underwriters’ overallotment option is exercised in full), our sponsor has agreed to purchase 3,500,000 private placement warrants (or 3,725,000 private placement warrants if the underwriters’ overallotment option is exercised in full) and the underwriters have agreed to purchase 1,500,000 private placement warrants (or 1,725,000 private placement warrants if the underwriters’ overallotment option is exercised in full). If we do not complete an initial business combination within the completion window, the private placement warrants will be worthless. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. This risk may become more acute as the end of the completion window nears, which is the deadline for our completion of an initial business combination, unless such completion window is extended as described herein. We may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us. Although we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering, we may choose to incur substantial debt to complete our initial business combination. The incurrence of debt could have a variety of negative effects, including: •default and foreclosure on our assets if our operating revenues after