Company: DAAQ
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001213900-25-031293
Chunk: 174

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-14
Form: S-1/A
Chunk 174
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 the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank. Due to the short -termnature of these investments, we believe there will be no associated material exposure to interest rate risk. Related Party Transactions On December 11, 2024, our sponsor paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs in exchange for 5,750,000 founder shares. In January 2025, our sponsor transferred 25,000 founder shares to each of our independent director nominees (for an aggregate of 75,000 founder shares) and 10,000 founder shares to each of our advisors (for an aggregate of 40,000 founder shares) at the same per -shareprice that our sponsor purchased such shares, or approximately $0.004 per share, resulting in our sponsor holding 5,635,000 founder shares. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 17,250,000 units if the underwriters’ over -allotmentoption is exercised in full, and therefore that such founder shares would represent 25% of the outstanding shares after this offering. Up to 750,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. If we increase or decrease the size of the offering, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares, on an as -convertedbasis, at 25% of our issued and outstanding ordinary shares upon the consummation of this offering. Our sponsor and the underwriters have committed to purchase an aggregate of 5,000,000 private placement warrants (or 5,450,000 private placement warrants if the underwriters’ overallotment option is exercised in full), each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per warrant, or $5,000,000 in the aggregate (or $5,450,000 if the underwriters’ overallotment option is exercised in full), in a private placement that will close simultaneously with the