MergerAug 3, 2026, 05:22 PM
DAAQ Sets Shareholder Vote for Old Glory Bank Merger
AI Summary
Digital Asset Acquisition Corp. (DAAQ) announced a definitive business combination agreement with Old Glory Bank, with a shareholder vote scheduled for August 14, 2026. The SPAC reported a net income of $2.38 million for the six months ended June 30, 2026, with $180.10 million in its Trust Account. The company faces substantial doubt about its ability to continue as a going concern if the merger is not completed by January 30, 2027.
Key Highlights
- Definitive business combination agreement with Old Glory Bank.
- Shareholder meeting scheduled for August 14, 2026, to vote on merger.
- Class A ordinary shares redemption price: $10.44 as of June 30, 2026.
- Net income for six months ended June 30, 2026: $2.38 million.
- Marketable securities in Trust Account: $180.10 million as of June 30, 2026.
- Working capital surplus of $470,152 as of June 30, 2026.
- Substantial doubt about going concern if merger not completed by January 30, 2027.
Price Impact
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