Company: DAAQ
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001213900-25-031293
Chunk: 253

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-14
Form: S-1/A
Chunk 253
---
 of our securities held by them and any other securities of the company acquired by them prior to the consummation of our initial business combination pursuant to a registration rights agreement to be signed on the effective date of this offering. Pursuant to the registration rights agreement and assuming the underwriters exercise their over -allotmentoption in full and $1,500,000 of working capital loans are converted into private placement warrants, we will be obligated to register up to 12,700,000 Class A ordinary shares and 6,500,000 warrants. The number of Class A ordinary shares includes (i) 5,750,000 Class A ordinary shares to be issued upon conversion of the founder shares, (ii) 5,450,000 Class A ordinary shares underlying the private placement warrants and (iii) 1,500,000 Class A ordinary shares underlying the private placement warrants issued upon conversion of working capital loans. The number of warrants includes up to 5,450,000 private placement warrants and 1,500,000 private placement warrants issued upon the conversion of working capital loans. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy -back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination. Notwithstanding anything to the contrary, the underwriters may only make a demand on one occasion and only during the five -yearperiod beginning on the effective date of the registration statement of which this prospectus forms a part. In addition, underwriters may participate in a “piggy -back” registration only during the seven -yearperiod beginning on the effective date of the registration statement of which this prospectus forms a part. We will bear the expenses incurred in connection with the filing of any such registration statements. 165 Certain Relationships and 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