Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 182

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 182
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 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 Completion 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 Completion 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 the closing of the Company’s initial Business Combination, only holders of Class B ordinary shares will be entitled
to vote on the appointment and removal of directors or continuing in a jurisdiction outside the Cayman Islands (including any special
resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving
a transfer by way of continuation in a jurisdiction outside the Cayman Islands).

12

DIGITAL
ASSET ACQUISITION CORP. 

JUNE
30, 2025

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

The
Founder Shares will automatically convert into Class A