Digital Asset Acquisition Corp. closes $172.5M IPO and $5.45M private placement on April 30, 2025

Digital Asset Acquisition Corp.

IPO of 17,250,000 units at $10.00/unit, each consisting of one Class A share and one-half redeemable warrant.
Private placement of 5,450,000 warrants at $1.00 each to sponsor and underwriters, gross proceeds $5,450,000.
$172,500,000 deposited into trust; audited balance sheet shows trust cash of $172.5M and $1.6M due from sponsor.
Class A shares redeemable at $10.00 per share; SPAC must complete business combination by October 30, 2026 (or Jan 30, 2027).
Working capital surplus of $1.36M alleviates going-concern doubt after IPO.

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