Company: DAAQ
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078074
Chunk: 169

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 1
Chunk 169
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4, as amended (the “Exchange Act”)), will be restricted
from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior consent of the
Company.

The
Sponsor has agreed to waive redemption rights with respect to any Founder Shares held and any Public Shares they may have acquired during
or after the Initial Public Offering in connection with the completion of a Business Combination, except that Public Shares held by the
initial shareholders will be subject to mandatory redemption upon any diminution of the Trust Account in connection with an extension,
and such shares will be entitled to redemption at a price equal to the per share redemption value then held in the Trust Account in connection
therewith.

The
Company will have until October 30, 2026 (or January 30, 2027), 18 months from the closing of the Initial Public Offering (or
21 months from the closing of the Initial Public Offering if the Company has executed a definitive agreement for an initial Business
Combination within 18 months of the Initial Public Offering) to complete a Business Combination (the “Completion Period”).
However, if the Company anticipates that it may not be able to consummate a Business Combination within 18 months (or 21 months as discussed
above) from the closing of the Initial Public Offering, the Company may, but is not obligated to, by resolution of the board if requested
by the initial shareholders, extend the period of time to consummate a Business Combination by seeking shareholder approval to amend
the Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate the initial Business
Combination. If the Company seeks shareholder approval for an extension, holders of Public Shares will be offered an opportunity to redeem
their shares, regardless of whether they abstain, vote for, or against, the Company’s initial Business Combination, at a per share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned thereon (which
interest shall be net of amounts not previously released to the Company pursuant to permitted withdrawals), divided by the number of
then issued and outstanding Public Shares, subject to applicable law. For the avoidance of doubt, the time to complete a Business Combination
shall not be extended beyond 18 months (or 21 months as discussed above) without a shareholder vote. Cohen & Company Capital Markets
(the “Representative”), a division of J.V.B