Company: DAAQ
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0001213900-25-038444
Chunk: 1

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-05-01
Form: 8-K
Item: Item 3.02
Chunk 1
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Item 3.02. Unregistered Sales of Equity Securities.

On April 30, 2025,
simultaneously with the closing of the IPO, pursuant to the Private Placement Warrants Purchase Agreements, the Company completed
the private sale of an aggregate of 5,450,000 warrants (the “ Private Placement
Warrants”) to the Sponsor and the Underwriters at a purchase price of $1.00 per Private Placement Warrant, generating
gross proceeds to the Company of $5,450,000. Of the 5,450,000 Private Placement Warrants, the Sponsor purchased 3,725,000 Private
Placement Warrants, the Representative purchased 1,466,250 Private Placement Warrants and Clear Street purchased 258,750 Private
Placement Warrants. The Private Placement Warrants are identical to the Warrants included as part of the Units sold in the IPO,
except that, for so long as the Private Placement Warrants are held by the Sponsor, the Underwriters or their permitted transferees,
the Private Placement Warrants (i) may not (including the Class A Ordinary Shares issuable upon exercise of the Private Placement
Warrants), subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of the
Company’s initial business combination, (ii) are entitled to registration rights, and (iii) with respect to the Private
Placement Warrants held by the Underwriters and/or their designees, will not be exercisable more than five years after the
commencement of sales in the IPO. The Private Placement Warrants will be worthless if the Company does not complete an initial
business combination. The material terms of the Private Placement Warrants are fully described in the Prospectus and are
incorporated herein by reference. No underwriting discounts or commissions were paid with respect to the sale of the Private
Placement Warrants. The issuance of the Private Placement Warrants was made pursuant to the exemption from registration contained in
Section 4(a)(2) of the Securities Act of 1933, as amended.

Item 5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 28, 2025, in connection
with the IPO, Kristin Smith, Rebecca Rettig and Thomas Trowbridge were appointed to the board of directors of the Company. Ms. Smith,
Ms. Rettig and