Company: DAAQ
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001213900-25-053846
Chunk: 31

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Item 8
Chunk 31
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 Rules 13a-15(f) and 15d-15(f) under the Exchange
Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

22

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

Factors
that could cause our actual results to differ materially from those in this Quarterly Report are any of the risks described in our final
prospectus for our Initial Public Offering filed with the SEC on April 30, 2025. Any of these
factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk
factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations. As of the
date of this Quarterly Report, there have been no material changes to the risk factors disclosed in our final prospectus for our Initial
Public Offering filed with the SEC on April 30, 2025.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS

The registration
statement for the Company’s Initial Public Offering was declared effective on April 28, 2025.
On April 30, 2025, we consummated the Initial Public Offering of 17,250,000 Units,
including 2,250,000 Units issued pursuant to the exercise of the Underwriters’ over-allotment
option in full, generating gross proceeds of $172,500,000.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 5,450,000 Private Placement Warrants at a price of $1.00 per warrant generating gross
proceeds of $5,450,000. Of the 5,450,000 Private Placement Warrants, the Underwriters purchased an aggregate of 1,725,000 Private Placement
Warrants and the Sponsor purchased 3,725,000 Private Placement Warrants. Each whole Private Placement Warrant is exercisable to purchase
one Class A ordinary share at a price of $11.50 per share. The issuance was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.

The Private Placement Warrants are identical to
the warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants (i)