Company: DAAQ
Filing Date: 2025-03-14
Form Type: S-1/A
Source: 0001213900-25-024216
Chunk: 250

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-03-14
Form: S-1/A
Chunk 250
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iii) may be exercised by the holders on a cashless basis, (iv) will be entitled to registration rights and (v) with respect to private placement warrants held by the underwriters and/or their respective designees, will not be exercisable more than five years from the commencement of sales in this offering in accordance with FINRA Rule 5110(g)(8). Certain accredited investors (none of which are affiliated with any member of our management, our sponsor or any other investor) (the “non -managingsponsor investors”) have expressed an interest to purchase, indirectly through the purchase of non -managingsponsor membership interests, an aggregate of [•] of the 3,500,000 total private placement warrants and [•] total founder shares to be purchased by our sponsor. The interests of the members of our sponsor are denominated in three classes of membership interest units: (i) class A membership units that will represent an interest in certain private placement warrants and founder shares held by our sponsor, to be purchased by the non -managingsponsor investors and (ii) class B -1and B -2membership units that will represent an interest in the remaining private placement warrants and founder shares held by our sponsor, respectively. All members of our sponsor, including any non -managingsponsor investor that may join our sponsor concurrently with this offering will hold classes of membership units representing their proportional interest in the founder shares and private placement warrants. While the non -managingsponsor investors would have an interest in our completion of an initial business combination, pursuant to an agreement of all members of our sponsor, the management and control of our sponsor is vested exclusively in the managing members of our sponsor, which are Peter Ort, our Principal Executive Officer, and Jeff Tuder, our Chief Financial Officer. As a result of this management structure, non -managingsponsor investors will have no right to control our sponsor, or participate in any decision regarding the disposal of any security held by our sponsor, or otherwise. Prior to or in connection with the completion of our initial business combination, there may be payment by the company to our officers, independent directors, advisors, or their respective affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they render in order to effectuate the completion of our initial business, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account, including permitted withdrawals from the trust account. 166 We