Company: DAAQ
Filing Date: 2025-06-12
Form Type: 10-Q
Source: 0001213900-25-053846
Chunk: 20

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-06-12
Form: 10-Q
Item: Item 8
Chunk 20
---
 $10.00 per Unit.

The Underwriters were entitled to (1) an underwriting
discount of $0.20 per Unit, or $3,450,000 in the aggregate, of which (i) $0.10 per Unit was paid to the Underwriters in cash at the closing
of the Initial Public Offering and (ii) $0.10 per Unit was used by the Underwriters to purchase Private Placement Warrants, and (2) a
deferred fee of $0.40 per Unit, or $6,900,000. The deferred fee will become payable to the Underwriters from the amounts held in the Trust
Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement, and
will be based on the amount of funds remaining in the Trust Account after shareholder redemptions of Public Shares in connection with
the consummation of a Business Combination.

15

DIGITAL ASSET ACQUISITION CORP. 

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(UNAUDITED)

NOTE 8. SHAREHOLDER’S EQUITY

Preference shares — The Company
is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share with such designations, voting and other rights
and preferences as may be determined from time to time by the Company’s board of directors. As of March 31, 2025 and December 31,
2024, there were no preference shares issued or outstanding.

Class A ordinary shares — The
Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s
Class A ordinary shares are entitled to one vote for each share. As of March 31, 2025 and December 31, 2024, there were no shares
of Class A ordinary shares issued and outstanding. As of the date of this report on Form 10-Q for the quarter ending March 31, 2025 (the
“Quarterly Report”), following the completion of the Initial Public Offering, there were 17,250,000 Class A ordinary shares
issued and outstanding, including 17,250,000 Class A ordinary shares subject to possible redemption.

Class B ordinary shares — The
Company is authorized to issue 50,000,000 shares of Class B ordinary