secwatch.observer — SEC 8-K summary
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Issuer:     Digital Asset Acquisition Corp. (DAAQ)
CIK:        0002052162
Form:       8-K
Filed at:   2025-05-06T23:59:59+00:00
Accession:  0001213900-25-040233
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2052162/000121390025040233/0001213900-25-040233-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2052162/000121390025040233/ea0241095-8k_digital.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-040233

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