Company: DAAQ
Filing Date: 2025-03-14
Form Type: S-1/A
Source: 0001213900-25-024216
Chunk: 350

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-03-14
Form: S-1/A
Chunk 350
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 combination transaction in accordance with the requirements of Rule 14e -5under the Exchange Act and any SEC interpretations or guidance relating thereto), (iv) the Founder Shares are automatically convertible into Class A ordinary shares immediately prior to, concurrently with or immediately following the consummation of the Company’s initial business combination or at any time prior thereto at the option of the holder on a one -for -onebasis, subject to adjustment as described herein and in the amended and restated memorandum and articles of association, and (v) prior to the closing of the Company’s initial business combination, only holders of Class B ordinary shares will be entitled to vote on the appointment and removal of directors or continuing in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). The Founder Shares will automatically convert into Class A ordinary shares immediately prior to, concurrently with or immediately following the consummation of the initial business combination or at any time prior thereto at the option of the holder on a one -for -onebasis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares, or any other equity -linkedsecurities, are issued or deemed issued in excess of the amounts sold in this offering and related to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 25% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued pursuant to the Underwriter’s over -allotmentoption and excluding the Class A ordinary shares underlying the private placement warrants issued to the Sponsor and the Underwriter), plus (ii) all Class A ordinary shares and equity -linkedsecurities issued or deemed issued in connection with the Company’s initial business combination (excluding any shares or equity -linkedsecurities issued, or to be issued, to any seller in the initial business combination and