DAAQ SEC filings, in plain English
Everything Digital Asset Acq has filed with the SEC that we hold — 40 filings, newest first, 27 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Filed as Rule 425 material, this is the executed Mutual Termination and Release Agreement dated August 13, 2026 between Digital Asset Acquisition Corp. (DAAQ) and Old Glory Holding Company. It terminates the January 13, 2026 Business Combination Agreement in its entirety under Section 8.1(a) (mutual written consent), automatically terminates all Ancillary Documents, and exchanges full mutual releases and covenants not to sue between the parties; only Section 9.18 of the BCA survives. Why it matters: The DAAQ/Old Glory deal is dead — a clean mutual walk-away with no break fee or surviving liability. DAAQ reverts to a searching SPAC and holders' next event is an extension vote or liquidation.
What changed: 8-K reporting under Items 1.01 and 1.02 that on August 13, 2026 Digital Asset Acquisition Corp. and Old Glory Holding Company entered a Mutual Termination and Release Agreement terminating the January 13, 2026 Business Combination Agreement (under which DAAQ would have domesticated as a Texas corporation and Old Glory would have merged into DAAQ) and abandoning the transactions effective that date. Under Item 8.01, because there is no longer any business to transact, the extraordinary general meeting of shareholders scheduled for 10:00 a.m. ET on August 14, 2026 was indefinitely postponed. Why it matters: Formal termination of DAAQ's only announced deal, one day before the shareholder vote. No further liability attaches to either side except BCA Section 9.18. DAAQ's status should move from deal-announced back to searching.
What changed: Digital Asset Acquisition Corp. filed its Form 10-Q for the quarter ended June 30, 2026. Why it matters: Routine quarterly report. Separately DAAQ has an announced combination with Old Glory Bank; this 10-Q itself discloses no new deal terms. Funds in trust, no operations.
What changed vs 2026-05-15trust $178.6M → $180.1M +1%trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $178.6M$180.1M
- Combination deadline
- 2027-01-30 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $1,514,503 was added to the trust between the two filings.
The clause …“assets 20,000 Total current assets 509,897 1,146,546 Marketable securities held in Trust Account 180,097,053 177,124,457 Long-term prepaid insurance 21,734 TOTAL ASSETS $ 180,606,950 $ 178,292,737 LIABILITIES AND SHAREHOLDERS DEFICIT”…
The clause …“then held in the Trust Account in connection therewith. The Company will have until January 30, 2027, 21 months from the closing of the Initial Public Offering to complete a Business Combination (the Completion Period ). However,”…
The clause …“are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company s ability to continue as a going concern within one year after the date that the condensed financial statements are”…
The clause …“none issued or outstanding at June 30, 2026 and December 31, 2025 (excluding 17,250,000 Class A ordinary shares subject to possible redemption) Class B ordinary shares, $ 0.0001 par value, 50,000,000 shares authorized, 5,750,000 shares”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Digital Asset Acquisition Corp. (8-K, Item 8.01) announced its extraordinary general meeting to approve the combination with Old Glory Holding Company (Old Glory Bank) was POSTPONED from July 31, 2026 to August 14, 2026; redemption deadline had been July 29, 2026. Why it matters: Material: postponing the combination vote signals the deal is proceeding but timing has slipped; proposals unchanged. Bears on close timing for the Old Glory Bank transaction.
What changed: Digital Asset Acquisition Corp. filed (425) the same 8-K disclosing the postponement of its combination EGM from July 31 to August 14, 2026 (Old Glory Bank transaction). Why it matters: Companion 425 to the postponement 8-K; bears on the timing of the Old Glory Bank combination vote. Material timing update.
What changed: Definitive 424(b)(3) proxy statement/prospectus (Reg. Nos. 333-294660 and 333-294660-01) for DAAQ's combination with Old Glory Holding Company under the January 13, 2026 Business Combination Agreement, registering up to 62,075,000 shares and 15,128,035 warrants. DAAQ domesticates from Cayman to Texas, Old Glory merges into it, and the survivor is renamed OGB Financial Company; Old Glory Class B shares are exchanged at a $250.0 million equity value adjusted for indebtedness and unrestricted cash less aggregate Class A Liquidation Value, divided by $10.00, and all Old Glory equity awards fully vest and roll over. Post-close listing under proposed Nasdaq symbols OGB and OGBW is a closing condition, but the filing warns the parties may waive it (except where Nasdaq has affirmatively denied listing), so shareholders may vote without listing confirmation and the deal could close unlisted. Closing also requires Transaction Financing and bank regulatory approvals. Sponsor DAAQ Sponsor LLC held about 24.5% of DAAQ ordinary shares at the Record Date, signed a Sponsor Support Agreement, and will receive 5,635,000 OGB Pubco shares (acquired for $25,000 total) plus 3,725,000 OGB Pubco warrants (bought at $1.00 each in the IPO private placement). Why it matters: The express possibility of waiving the Nasdaq listing condition is a serious risk flag: non-redeeming holders could end up in an unlisted bank holding company. Bank regulatory approval and unspecified Transaction Financing remain outstanding conditions, and the sponsor converts $25,000 into 5,635,000 shares.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-05-31 · unchanged
The clause …“DAAQ or Old Glory Bank if the Business Combination is not consummated by May 31, 2026 (the “ Outside Date ”), (v) by either DAAQ or Old Glory Bank if DAAQ shareholders do not provide certain required approvals at the shareholder”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: S-4/A (preliminary, dated June 29, 2026) for Digital Asset Acquisition Corp.'s business combination with Old Glory Holding Company, a Delaware-registered bank holding company under the Bank Holding Company Act of 1956, registering up to 62,075,000 shares of common stock and 15,128,035 warrants. DAAQ will deregister in the Cayman Islands and domesticate in Texas, then Old Glory merges into it, with the survivor renamed OGB Financial Company. The DAAQ board unanimously approved the January 13, 2026 Business Combination Agreement. Why it matters: Ongoing amendment cycle on a bank-holding-company deSPAC, which needs Federal Reserve as well as SEC clearance — the Texas domestication and OGB Financial rename are unchanged from earlier amendments.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-05-31 · unchanged
The clause …“DAAQ or Old Glory Bank if the Business Combination is not consummated by May 31, 2026 (the Outside Date ), (v) by either DAAQ or Old Glory Bank if DAAQ shareholders do not provide certain required approvals at the shareholder”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: S-4/A (preliminary, dated June 18, 2026) for Digital Asset Acquisition Corp. / Old Glory Holding Company, registering up to 62,075,000 shares of common stock and 15,128,035 warrants, with the Cayman-to-Texas domestication and rename to OGB Financial Company on closing under the January 13, 2026 Business Combination Agreement. Why it matters: The June 18, 2026 step in the DAAQ amendment chain, superseded eleven days later by the June 29, 2026 amendment.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-05-31 · unchanged
The clause …“DAAQ or Old Glory Bank if the Business Combination is not consummated by May 31, 2026 (the Outside Date ), (v) by either DAAQ or Old Glory Bank if DAAQ shareholders do not provide certain required approvals at the shareholder”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: DAAQ filed a form of Non-Redemption Agreement offering investors 3.25 warrants per non-redeemed share (at a $12.00 strike price, 5-year exercise, no cashless exercise) to discourage redemptions ahead of its merger with Old Glory Holding Company to form OGB Financial Company. The agreement includes a most-favored-nation clause, a 90-day termination provision if closing doesn't occur, and a warrant price reduction mechanism if the 45-day VWAP one year post-closing falls below $12.00 (floored at $6.00). Why it matters: The 3.25x warrant ratio is an aggressive non-redemption incentive that signals the sponsor is actively working to preserve trust capital through the shareholder vote. The warrant price adjustment features provide downside protection for non-redeeming investors, making the deal economics more attractive for holders who stay in.
What changed: DAAQ filed a form of non-redemption agreement offering investors 3.25 warrants per non-redeemed share (exercise price $12.00, 5-year term) to forego redemption rights ahead of the Old Glory Holding Company merger vote. The agreement includes a most-favored-nation clause and a warrant price reset to max of 45-day VWAP or $6.00 if the stock trades below $12.00 at 12 months post-closing. Why it matters: This is the sponsor's anti-redemption strategy to preserve trust capital (currently $10.35/share) ahead of the shareholder vote on the Old Glory Bank Holding Company business combination. The 3.25x warrant ratio is a significant incentive and signals the sponsor expects redemption pressure.
What changed: S-4/A (preliminary, dated May 29, 2026) for Digital Asset Acquisition Corp.'s combination with Old Glory Holding Company, a Delaware bank holding company, registering up to 62,075,000 shares of common stock and 15,128,035 warrants. DAAQ will deregister in the Cayman Islands and domesticate in Texas, after which Old Glory merges into it and the survivor is renamed OGB Financial Company. Consideration mechanics: each Old Glory Class A share converts into PubCo shares equal to its Class A Liquidation Value plus the as-converted Class B entitlement at the Per Share Participating Equity Value, divided by $10.00; each Class B share converts at ($250.0 million, adjusted for indebtedness and unrestricted cash at closing, less the aggregate Class A Liquidation Value) divided by the fully diluted Old Glory share count, divided by $10.00. All Old Glory equity awards vest in full at the effective time. DAAQ units separate into one PubCo share and one-half warrant, and Class B shares convert one-for-one into Class A before domestication. Why it matters: Sets the $250.0 million equity value for Old Glory and the $10.00 reference price that drive the exchange ratio, plus the full acceleration of target equity awards at closing.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-05-31 · unchanged
The clause …“DAAQ or Old Glory Bank if the Business Combination is not consummated by May 31, 2026 (the Outside Date ), (v) by either DAAQ or Old Glory Bank if DAAQ shareholders do not provide certain required approvals at the shareholder”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Q1 2026 10-Q shows trust account at $178,582,550 ($10.35/share, up from $10.27 at YE 2025) with 17,250,000 Class A shares subject to redemption. Cash outside trust declined to $614,066 from $1,060,921 as G&A expenses rose to $426,442 for the quarter, including deal-related due diligence costs for the Old Glory Bank combination announced January 13, 2026. Why it matters: The deal with Old Glory Bank is expected to close in Q2 2026, subject to shareholder and regulatory approval, with the completion deadline of January 30, 2027. No subsequent events were disclosed and no working capital loans are outstanding, indicating the deal remains on track with no new material developments since the BCA signing.
What changed vs 2025-11-14trust $175.5M → $178.6M +2%deadline 2026-10-30 → 2027-01-30trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $175.5M$178.6M
- Combination deadline
- 2026-10-302027-01-30
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $3,116,482 was added to the trust between the two filings.
The clause …“20,000 20,000 Total current assets 699,691 1,146,546 Marketable securities held in Trust Account 178,582,550 177,124,457 Long-term prepaid insurance 5,327 21,734 TOTAL ASSETS $ 179,287,568 $ 178,292,737 LIABILITIES AND SHAREHOLDERS”…
SpacBrain reads this as 92 days later than the previous record.
The clause …“there can be no assurance that the Company will be able to consummate any Business Combination by January 30, 2027. Therefore, the Company has concluded that there is substantial doubt about its ability to continue as a going”…
The clause …“are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company s ability to continue as a going concern within one year after the date that the condensed financial statements are”…
The clause …“none issued or outstanding at March 31, 2026 and December 31, 2025 (excluding 17,250,000 Class A ordinary shares subject to possible redemption) Class B ordinary shares, $ 0.0001 par value, 50,000,000 shares authorized, 5,750,000 shares”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Amended S-4 (preliminary proxy statement/prospectus dated May 1, 2026) for DAAQ's business combination with Old Glory Holding Company, a Delaware bank holding company registered under the Bank Holding Company Act of 1956, under a Business Combination Agreement dated January 13, 2026. DAAQ will deregister in the Cayman Islands and domesticate as a Texas corporation under the TBOC, then Old Glory merges into the domesticated entity, which is renamed OGB Financial Company; the registration covers up to 62,075,000 shares of common stock and 15,128,035 warrants. Consideration is all stock at a $10.00 reference price: Old Glory Class B shares are exchanged based on a $250.0 million equity value (adjusted for indebtedness and unrestricted cash at Closing, less the aggregate Class A Liquidation Value) divided by fully-diluted as-converted shares, Class A shares receive their Class A Liquidation Value plus as-converted participating value, and all Old Glory equity awards vest in full and roll over. Why it matters: This is a rare SPAC acquisition of a regulated U.S. bank holding company at a $250 million equity value, with a Cayman-to-Texas domestication that is unusual among deSPACs and adds bank-regulatory approval risk to the closing conditions. Full acceleration of target equity awards and the $10.00 conversion reference price set the dilution baseline for public holders who do not redeem.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2026-05-31 · unchanged
The clause …“DAAQ or Old Glory Bank if the Business Combination is not consummated by May 31, 2026 (the Outside Date ), (v) by either DAAQ or Old Glory Bank if DAAQ shareholders do not provide certain required approvals at the shareholder”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Digital Asset Acquisition Corp. (DAAQ) filed a Form S-4 registration statement for its proposed business combination with Old Glory Holding Co., a financial holding company whose subsidiaries include First State Bank of Elmore County and American Mortgage Bank LLC. DAAQ completed its IPO on April 30, 2025 (with over-allotment) and carries Class A/Class B shares plus public and private placement warrants held by the sponsor, underwriters and representatives; founder shares were issued December 11, 2024. Why it matters: The S-4 formally launches the de-SPAC merger, giving shareholders the vote-and-redeem decision. Notably the target is a community bank/mortgage holding company rather than a digital-asset business, a mismatch with the SPAC's name that merits diligence on deal fit.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2026-05-31
SpacBrain reads this as the agreement may be terminated from 2026-05-31.
The clause …“DAAQ or Old Glory Bank if the Business Combination is not consummated by May 31, 2026 (the “ Outside Date ”), (v) by either DAAQ or Old Glory Bank if DAAQ shareholders do not provide certain required approvals at the shareholder”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Digital Asset Acquisition Corp., a Cayman Islands blank-check company, filed its Form 10-K for the fiscal year ended December 31, 2025. As of March 2, 2026 it had 17,250,000 Class A ordinary shares and 5,750,000 Class B shares outstanding, with securities listed on Nasdaq as units (DAAQU; each one Class A share plus one-half of one redeemable warrant), shares (DAAQ) and warrants (DAAQW; $11.50 exercise); non-affiliate market value was $180,780,000 based on the $10.48 close on June 30, 2025. The company reported it has not selected a business-combination target. Why it matters: A routine annual report from a still-searching SPAC; the key investor takeaway is that no deal has been announced, keeping the vehicle exposed to combination-deadline and liquidation risk while the half-warrant per unit limits dilution relative to full-warrant structures.
What changed: Digital Asset Acquisition Corp. (Nasdaq: DAAQ) filed an 8-K (Item 7.01 Regulation FD) on the same pending business combination with Old Glory Holding Company ('Old Glory Bank') under the January 13, 2026 agreement, involving DAAQ's redomestication to Texas and rename to OGB Financial Company ('Pubco'). It furnishes the February 23, 2026 Old Glory Bank press release stating Peter Ort and Michael Sonnenshein intend to join Pubco's board upon consummation, subject to regulatory approval. Why it matters: Companion 8-K to the 425 confirming board-appointment plans for the go-forward bank; the deal's dependence on regulatory approval remains the key completion-risk item for DAAQ holders weighing redemption versus the merger.
What changed: Digital Asset Acquisition Corp. (Nasdaq: DAAQ/DAAQU/DAAQW; units = one Class A share + 1/2 of one redeemable warrant at $11.50) filed a Rule 425 / Item 7.01 8-K about its pending business combination (agreement dated January 13, 2026) with Old Glory Holding Company ('Old Glory Bank'). Under the deal, DAAQ will domesticate from the Cayman Islands to Texas and rename to OGB Financial Company ('Pubco'), with Old Glory Bank merging into Pubco. A February 23, 2026 Old Glory Bank press release announced Peter Ort and Michael Sonnenshein intend to join Pubco's board upon closing, subject to regulatory approval. Why it matters: Adding known fintech/crypto figures (Sonnenshein, ex-Grayscale) signals commitment to the bank-combination and helps deal marketing ahead of the S-4 and shareholder vote; investors should note the transaction is subject to bank regulatory approval, an added completion-risk factor beyond the standard SPAC vote.
What changed: Digital Asset Acquisition Corp. (DAAQ) filed a Rule 425 communication disclosing social-media and email marketing by target Old Glory Holding Company (Old Glory Bank), a Delaware-chartered bank holding company, promoting their January 13, 2026 business combination agreement. Under the deal DAAQ will deregister from the Cayman Islands and domesticate as a Texas corporation renamed 'OGB Financial Company' (Pubco), with Old Glory Bank merging into Pubco as the surviving company. The posts pitch a 'Freedom Economy' bank bridging traditional banking and crypto/DeFi and reference a pending shareholder vote. Why it matters: Confirms a signed BCA and Texas domestication for a crypto-adjacent community bank, but the overtly promotional, politically framed marketing (anti-debanking, 'freedom' branding, 85-employee bank) is a governance/quality red flag investors should weigh against undisclosed deal economics. Terms, valuation, and trust impact await the Form S-4/proxy.
What changed: Digital Asset Acquisition Corp. (DAAQ), a Cayman SPAC, filed a Rule 425 communication (dated January 21, 2026) reproducing X posts by target Old Glory Holding Company (Old Glory Bank) and co-founder John Rich promoting the business combination announced January 13, 2026. Under the deal, DAAQ will domesticate from the Cayman Islands to Texas and rename to OGB Financial Company (Pubco), with Old Glory Bank merging into Pubco and listing on Nasdaq; a Form S-4 proxy statement/prospectus is to be filed. Why it matters: Confirms a definitive de-SPAC target (a chartered bank holding company) and Texas re-domestication, giving investors a concrete deal to evaluate; the promotional social-media tone and reliance on retail 'freedom economy' marketing are potential red flags to weigh against the S-4 disclosures.
What changed: Digital Asset Acquisition Corp. (DAAQ) filed a Rule 425 communication (dated January 16, 2026) reproducing three radio live-read transcripts (Erick Erickson, Real America's Voice, Chisholm Trail) promoting its January 13, 2026 business-combination agreement with Old Glory Holding Company (Old Glory Bank). The deal has DAAQ domesticating to Texas as OGB Financial Company and Old Glory Bank merging in to list on Nasdaq; one broadcast claimed Old Glory Bank grew deposits by more than 2,000% in under three years. Why it matters: Reinforces the pending de-SPAC with a bank target but consists entirely of retail-facing promotional broadcasts rather than audited financials; the heavy marketing push and unverified growth claims are red flags investors should confirm against the forthcoming S-4.
What changed: Digital Asset Acquisition Corp. (DAAQ) disclosed under Rule 425 that on January 13, 2026 it entered a Business Combination Agreement with Old Glory Holding Company ('Old Glory Bank', a Delaware-registered bank holding company). DAAQ will deregister from the Cayman Islands and domesticate in Texas as 'OGB Financial Company' (Pubco), into which Old Glory Bank will merge; the DAAQ ticker becomes OGB at closing. The filing attaches Old Glory Bank's customer marketing email and social posts urging supporters to buy DAAQ shares. Why it matters: Confirms a definitive de-SPAC deal and target, but the aggressive retail-directed solicitation ('buy a few shares') to a customer listserv is a promotional red flag. No trust, valuation, or redemption figures are provided, and bank regulatory approvals add closing risk.
What changed: Digital Asset Acquisition Corp. (DAAQ) filed a January 2026 investor presentation under Rule 425 promoting its potential business combination with Old Glory Holding Company ('Old Glory Bank'), a Bank Holding Company. The deck is preliminary marketing material and contains no binding terms, valuation, or trust figures beyond describing the proposed combination. Why it matters: Signals active deal promotion toward a shareholder vote, but as forward-looking marketing it offers no economics; investors must await the Form S-4/proxy for valuation, dilution, and redemption terms. Banking-sector regulatory approval (FDIC, Oklahoma State Banking Department) adds closing risk.
What changed: Digital Asset Acquisition Corp. (DAAQ), a Cayman blank-check company incorporated December 9, 2024, entered a Business Combination Agreement dated January 13, 2026 with Old Glory Holding Company (a Delaware bank holding company). DAAQ will first domesticate as a Texas corporation renamed OGB Financial Company (PubCo), after which Old Glory merges into PubCo as the surviving corporation, with a Nasdaq listing sought. Concurrent agreements include a Sponsor Support Agreement, Company Support Agreements from key shareholders, lock-up agreements, PIPE investor subscription agreements, and a registration rights agreement. Why it matters: This is DAAQ's definitive deal, converting a blank-check shell into a publicly listed bank holding company and giving investors a concrete target to underwrite. Sponsor/insider support and lock-ups reduce vote risk, while the PIPE and trust mechanics will determine post-redemption funding; bank-regulatory approvals add a closing gate not present in typical SPAC deals.
What changed: Digital Asset Acquisition Corp. (DAAQ) filed a Form 8-K attaching the same Business Combination Agreement dated January 13, 2026 with Old Glory Holding Company. DAAQ will domesticate from a Cayman company into a Texas corporation renamed OGB Financial Company (PubCo), with Old Glory merging into PubCo as the surviving entity and a Nasdaq listing sought, supported by sponsor support, company support, lock-up, and PIPE subscription agreements. Why it matters: The 8-K is DAAQ's formal current-report disclosure of its definitive merger with a regulated bank holding company, giving public holders a concrete deal to evaluate. Closing hinges on shareholder votes, redemption levels, PIPE funding, and bank-regulatory approvals.
What changed: Digital Asset Acquisition Corp. (Nasdaq: DAAQ; units DAAQU = one Class A share + one-half redeemable warrant, DAAQW exercisable at $11.50) reported its Q3 10-Q for the period ended September 30, 2025, with 17,250,000 Class A and 5,750,000 Class B shares outstanding. The Trust Account held $175,466,068 ($10.17 per share on 17,250,000 redeemable shares), against $6,900,000 deferred underwriting and a $5,762,069 shareholders' deficit; nine-month net income was $2,665,323, driven by $2,948,521 of trust earnings. The IPO closed April 30, 2025 with the underwriters' over-allotment exercised in full. Why it matters: Routine quarterly showing a healthy ~$10.17 per-share redemption floor above the $10.00 base, with no deal yet announced; the $6.9M deferred underwriting fee is a dilution/economics overhang against any future combination.
What changed vs 2025-08-19trust $173.7M → $175.5M +1%going concern APPEAREDtrust account, going-concern doubt, combination deadline +12 moved · 2 with no prior record of ours
- Trust account
- $173.7M$175.5M
- Going-concern doubt
- not statedstated
- Combination deadline
- 2026-10-30 · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $1,801,182 was added to the trust between the two filings.
The clause …“current assets 1,235,517 Deferred offering costs 25,000 Marketable securities held in Trust Account 175,466,068 Long-term prepaid insurance 38,140 TOTAL ASSETS $ 176,739,725 $ 25,000 LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT) Current”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“are certain conditions and events considered in the aggregate, that raise substantial doubt about the Company s ability to continue as a going concern within one year after the date that the condensed financial statements are”…
The clause …“there can be no assurance that the Company will be able to consummate any Business Combination by October 30, 2026 (or January 30, 2027). Therefore, the Company has concluded that there is substantial doubt about its ability to”…
The clause …“issued or outstanding at September 30, 2025 and December 31, 2024 (excluding 17,250,000 Class A ordinary shares subject to possible redemption) Class B ordinary shares, $ 0.0001 par value, 50,000,000 shares authorized, 5,750,000 shares”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Digital Asset Acquisition Corp. (DAAQ) filed its Q2 2025 10-Q covering its first period as a public company. Its IPO closed April 30, 2025 with the underwriters' over-allotment exercised in full, leaving 17,250,000 Class A shares and 5,750,000 Class B founder shares outstanding; the trust held $173,664,886, or about $10.07 per redeemable share, at June 30, 2025. Units trade as DAAQU (one Class A share plus one-half redeemable warrant), shares as DAAQ, and warrants as DAAQW (exercisable at $11.50); deferred underwriting fees payable total $6,900,000 and six-month net income was $974,692. Why it matters: The ~$10.07 per-share trust sets the redemption floor for investors, and the clean over-allotment exercise gives the SPAC a full ~$173.7M war chest to hunt a target. The $6.9M deferred underwriting fee is a dilution/cost overhang that will be borne at any eventual combination.
trust account, combination deadline, redeemable sharesnothing moved · 3 with no prior record of ours
- Trust account
- not previously extracted$173.7M
- Combination deadline
- 2026-10-30 · unchanged
- Redeemable shares
- 17.3M · unchanged
The clause …“current assets 1,347,165 Deferred offering costs 25,000 Marketable securities held in Trust Account 173,664,886 Long-term prepaid insurance 54,546 TOTAL ASSETS $ 175,066,597 $ 25,000 LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT) Current”…
The clause …“there can be no assurance that the Company will be able to consummate any Business Combination by October 30, 2026 (or January 30, 2027). NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited”…
The clause “A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized (excluding 17,250,000 Class A ordinary shares subject to possible redemption); none issued or outstanding at June 30, 2025 and December 31, 2024 Class B ordinary shares,”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Digital Asset Acquisition Corp. (Nasdaq: DAAQ; units DAAQU, warrants DAAQW at $11.50, each unit one Class A share plus one-half of a redeemable warrant) filed its Form 10-Q for the quarter ended March 31, 2025. As a pre-IPO blank-check company incorporated in the Cayman Islands on December 9, 2024, it reported a net loss of $54,616, total assets of $201,170 (deferred offering costs), a shareholder deficit of $34,728, and 5,750,000 Class B founder shares outstanding. Its over-allotment option was exercised in full on April 30, 2025, removing the forfeiture on 750,000 Class B shares, and IPO closed with 17,250,000 Class A shares outstanding as of June 12, 2025. Why it matters: Routine first quarterly for a newly formed SPAC; the balance sheet reflects pre-IPO shell status with no trust yet funded in the reported period, so no redemption or deal signal.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.