Business Context and Reporting Period
Company: Digital Asset Acquisition Corp. (DAAQ), a Cayman Islands exempted company and emerging growth company.
Reporting Date: January 14, 2026.
Event: DAAQ and Old Glory Holding Company (Old Glory Bank) announced the entry into a definitive agreement for a proposed business combination. The transaction will be submitted to DAAQ shareholders for approval via a proxy statement/prospectus to be filed on Form S-4.
Key Financial Metrics
The filing is a Current Report on Form 8-K regarding a corporate transaction and does not contain audited financial statements, revenue, profit, cash flow, or margin data for the reporting period.
- Revenue/Profit/Cash Flow: Not provided in this filing.
- Debt/Liquidity: Not provided in this filing.
- Securities: DAAQ Units (DAAQU), Class A ordinary shares (DAAQ), and redeemable warrants (DAAQW) trade on The Nasdaq Stock Market LLC.
- Warrant Exercise Price: $11.50 per share.
Material Changes
The primary material change is the execution of a definitive merger agreement with Old Glory Bank, a Delaware corporation registered as a Bank Holding Company. This represents a strategic shift from a standalone SPAC to a combined entity with Old Glory Bank.
Guidance, Outlook, and Risks
Outlook: Management anticipates the combined company ("Pubco") will benefit from the transaction, though specific financial projections are not detailed in this 8-K. An investor presentation (Exhibit 99.1) contains further details.
Risks and Contingencies: The filing outlines significant risks that could cause actual results to differ from expectations, including:
- Failure to obtain shareholder approval from DAAQ or Old Glory Bank.
- Inability to satisfy closing conditions or meet stock exchange listing standards post-combination.
- Disruption of current operations during the transaction process.
- Changes in laws, regulations, or market conditions affecting the banking sector or the SPAC structure.
- Uncertainty regarding shareholder redemptions and purchase price adjustments.
Forward-Looking Statements: The document contains forward-looking statements regarding the ability to effectuate the combination and future performance, which are subject to inherent uncertainties and are not guarantees.
Investor Verification Checklist
- Review the upcoming Form S-4 Registration Statement for definitive terms of the merger, including exchange ratios and capital structure.
- Examine Exhibit 99.1 (Investor Presentation) for specific financial projections and strategic rationale.
- Verify the status of Old Glory Bank's regulatory approvals as a Bank Holding Company.
- Monitor the shareholder vote date and redemption rights for DAAQ securityholders.
- Assess the risk of the transaction failing due to regulatory hurdles or shareholder dissent.