Company: DAAQ
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110841
Chunk: 74

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 74
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000 Private Placement
Warrants. Each whole Public Warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share,
subject to adjustment as discussed below, at any time commencing 30 days after the completion of the initial Business Combination. Pursuant
to the warrant agreement, a warrant holder may exercise its Public Warrants only for a whole number of Class A ordinary shares. No fractional
Public Warrants will be issued upon separation of the Units and only whole Public Warrants will trade. The Public Warrants will expire
five years after the completion of the initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

The Company has agreed that as soon as practicable,
but in no event later than 20 business days after the closing of the initial Business Combination, the Company will use commercially reasonable
efforts to file with the SEC a post-effective amendment to an existing registration statement or a new registration statement covering
the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants and thereafter will
use the Company’s commercially reasonable efforts to cause the same to become effective within 60 business days following the initial
Business Combination and to maintain a current prospectus relating to the Class A ordinary shares issuable upon exercise of the warrants,
until the expiration of the warrants in accordance with the provisions of the warrant agreement. If a registration statement covering
the Class A ordinary shares issuable upon exercise of the warrants is not effective by the sixtieth (60) business day after the closing
of the initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any
period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis”
in accordance with Section 3(a)(9) of the Securities Act or another exemption.

Once the warrants become exercisable, the Company
may call the warrants for redemption for cash:

●in whole and not in part at a price of $0.01 per warrant;

●upon a minimum of 30 days’ prior written notice of redemption; and

●if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as
adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described below) for any
20 trading days within a 30