Company: DAAQ
Filing Date: 2025-04-23
Form Type: S-1/A
Source: 0001213900-25-034368
Chunk: 349

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-23
Form: S-1/A
Chunk 349
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 PROPOSED OFFERING Pursuant to the Proposed Offering, the Company will offer for sale 15,000,000 Units (or 17,250,000 Units if the Underwriters’ over -allotmentoption is exercised in full) at a purchase price of $10.00 per Unit. Each Unit will consist of one Class A ordinary share and one -halfof one redeemable warrant (“Public Warrant”). Each whole Public Warrant will entitle the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share, subject to adjustment (see Note 8). NOTE 4. PRIVATE PLACEMENT The Sponsor and Underwriters have agreed to purchase an aggregate of 5,000,000 Private Placement Warrants (or 5,450,000 Private Placement Warrants if the Underwriters’ over -allotmentoption is exercised in full) at a price of $1.00 per Private Placement Warrant, from the Company in a private placement that will occur simultaneously with the closing of the Proposed Offering. A portion of the proceeds from the sale of the Private Placement Warrants will be added to the net proceeds from the Proposed Offering held in the Trust Account. If the Company does not complete a Business Combination, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. NOTE 5. SEGMENT INFORMATION ASC Topic 280, Segment Reporting, establishes standards for companies to report, in their financial statements, information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company’s CODM has been identified as the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one reportable segment. The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance