Company: DAAQ
Filing Date: 2025-03-14
Form Type: S-1/A
Source: 0001213900-25-024216
Chunk: 319

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-03-14
Form: S-1/A
Chunk 319
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, any units, ordinary shares, founder shares or warrants, subject to certain exceptions. The representatives in their discretion may release any of the securities subject to these lock -upagreements at any time without notice, other than in the case of the officers and directors, which shall be with notice. Our sponsor, officers and directors are also subject to separate transfer restrictions on their founder shares and private placement warrants pursuant to the letter agreement described herein. Our sponsor, officers and directors agreed not to transfer, assign or sell any founder shares until the earlier to occur of (A) one year after the completion of our initial business combination and (B) subsequent to our initial business combination, (x) if the last reported sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub -divisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing at least 150 days after our initial business

203 combination, or (y) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property (except with respect to permitted transferees as described in the section of this prospectus entitled “ Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Warrants”). The private placement warrants and the warrants that may be issued upon conversion of working capital loans (including the Class A ordinary shares issuable upon conversion or exercise of such warrants) will not be transferable, assignable or saleable by our sponsor (as applicable) or their permitted transferees until 30 days after the completion of our initial business combination (except with respect to permitted transferees as described herein under the section of this prospectus entitled “ Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Warrants”). The underwriters (and/or their respective designees) have also committed to purchase from us 1,500,000 private placement warrants (or 1,720,000 private placement warrants if the underwriters’ over -allotmentoption is exercised in full), each exercisable to purchase one Class A ordinary share at $11.50 per share, at $1.00 per warrant for an aggregate purchase price of $1,500,000 (or $1,720,000 if the underwriters’ over -allotment