Business Context and Reporting Period
Company: Digital Asset Acquisition Corp. (DAAQ)
Filing Type: Form 8-K (Current Report)
Date of Report: August 13, 2026
Event: The Company entered into a Mutual Termination and Release Agreement with Old Glory Holding Company ("Old Glory") to terminate the Business Combination Agreement dated January 13, 2026. Consequently, the extraordinary general meeting of shareholders originally scheduled for August 14, 2026, has been indefinitely postponed.
Key Financial Metrics
This filing is a current report regarding a material definitive agreement and does not contain financial statements. The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Termination of Merger: The proposed business combination with Old Glory Holding Company has been abandoned as of August 13, 2026.
- Liability Release: The termination imposes no further liability or obligation on the Company or Old Glory, except for the survival of Section 9.18 of the original Business Combination Agreement.
- Meeting Postponement: The shareholder meeting intended to vote on the transaction is indefinitely postponed due to the lack of business to be transacted.
Outlook, Risks, and Management Commentary
Management Commentary: The Company has formally abandoned the transactions contemplated by the Business Combination Agreement. All ancillary documents relating to the transactions are automatically terminated.
Risks and Contingencies: The filing includes standard forward-looking statements cautioning that actual results may differ materially from expected results due to significant risks and uncertainties outside the Company's control. The Company does not undertake any obligation to update these statements.
Investor Verification Checklist
- Verify the specific terms of the surviving Section 9.18 of the Business Combination Agreement to understand any remaining obligations.
- Review the attached Exhibit 10.1 (Mutual Termination and Release Agreement) for details on any termination fees or payments not explicitly detailed in the summary.
- Monitor future filings for the Company's plan regarding the liquidation of trust assets or the search for a new business combination target.
- Confirm the status of the Class A ordinary shares, units, and warrants (DAAQ, DAAQU, DAAQW) on Nasdaq following the indefinite postponement of the shareholder meeting.