secwatch.observer — SEC 8-K summary
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Issuer:     Digital Asset Acquisition Corp. (DAAQ)
CIK:        0002052162
Form:       8-K
Filed at:   2025-05-01T23:59:59+00:00
Accession:  0001213900-25-038444
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Asset Acquisition Corp. closes $172.5M IPO; $172.5M placed in trust for business combination
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- IPO of 17,250,000 units at $10.00/unit, including full exercise of over-allotment, raising $172.5M gross.
- Concurrent private placement of 5,450,000 warrants at $1.00/warrant to sponsor and underwriters, raising $5.45M.
- Proceeds placed in trust account; must complete initial business combination within 18 months (21 if definitive agreement signed).
- Appointed three independent directors: Kristin Smith, Rebecca Rettig, Thomas Trowbridge; board classified into three classes.
- Targeting digital asset and cryptocurrency sectors for business combination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2052162/000121390025038444/0001213900-25-038444-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2052162/000121390025038444/ea0240140-8k_digital.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-038444

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer