
DealsJun 18, 2026, 05:26 PM
DAAQ to Combine with Old Glory Bank, Issue Warrants
AI Summary
Digital Asset Acquisition Corp. (DAAQ) has entered into a business combination agreement with Old Glory Bank. The transaction will involve DAAQ reincorporating in Texas and changing its name to OGB Financial Company, followed by a merger with Old Glory Bank. As part of the agreement, DAAQ will issue Non-Redemption Warrants to certain investors who agree not to redeem their shares in connection with the business combination. These warrants will be exercisable at $12.00 per share, with provisions for adjustments based on future stock performance and change of control events.
Key Highlights
- Digital Asset Acquisition Corp. (DAAQ) enters business combination agreement with Old Glory Bank.
- DAAQ will reincorporate in Texas, change name to OGB Financial Company.
- Old Glory Bank will merge with OGB Financial Company.
- DAAQ to issue Non-Redemption Warrants to investors who agree not to redeem shares.
- Warrants exercisable at $12.00, with potential adjustments based on stock price and change of control.
Price Impact