Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 150

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 1
Chunk 150
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 rights
and (v) with respect to Private Placement Warrants held by the Underwriters, will not be exercisable more than five years from the commencement
of sales in accordance with FINRA Rule 5110(g)(8).

Following
the closing of the Initial Public Offering on April 30, 2025,
an amount of $172,500,000 ($10.00 per Unit) from the net proceeds of the sale of the Units
in the Initial Public Offering and the sale of the Private Placement Warrants was placed
in the Trust Account.

We
paid a total of $10,350,000 in underwriting discounts and commissions and incurred approximately $700,000 for other costs and expenses
related to the Initial Public Offering. In addition, the Underwriters agreed to defer $6,900,000 in underwriting discounts and commissions.

For
a description of the use of the proceeds generated in our Initial Public Offering, see Part I, Item 2 of this Quarterly Report.

ITEM
3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

ITEM
5. OTHER INFORMATION

None.

23

ITEM
6. EXHIBITS

The
following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

    Exhibit
    No.
     
    Description
  
    1.1
     
    Underwriting
    Agreement, dated April 28, 2025, by and between the Company and the Representative (incorporated by reference to Exhibit 1.1 of the
    Company’s Form 8-K (File No. 001-42612), filed with the SEC on May 1, 2025).
  
    3.1
     
    Amended
    and Restated Memorandum of Association (incorporated by reference to Exhibit 3.1 of the Company’s Form 8-K (File No. 001-42612),
    filed with the SEC on May 1, 2025).
  
    4.1
     
    Warrant
    Agreement, dated April 28, by and between the Company and Efficiency, as warrant agent (incorporated by reference to Exhibit 4.1
    of the Company’s Form 8-K (File No. 001-42612), filed with the SEC on May 1, 2025).