Digital Asset Acquisition Corp. 8-K

What Happened
Digital Asset Acquisition Corp. (DAAQ) filed an 8-K (Feb 23, 2026) confirming its previously announced Business Combination Agreement (Jan 13, 2026) with Old Glory Holding Company (Old Glory Bank). Under the deal, DAAQ will deregister as a Cayman Islands exempted company, domesticate as a Texas corporation and change its name to OGB Financial Company (Pubco). Old Glory Bank will merge with and into Pubco, with Pubco surviving. On Feb 23, 2026 Old Glory Bank issued a press release (Exhibit 99.1) stating that Peter Ort and Michael Sonnenshein intend to join Pubco’s board upon consummation of the Business Combination, subject to regulatory approval.

Key Details

• Business Combination Agreement executed: January 13, 2026.
• Corporate changes: deregistration in Cayman, domestication to Texas, and name change to “OGB Financial Company.”
• Transaction structure: Old Glory Bank will merge into the renamed Pubco, with Pubco as the surviving company.
• Board nominations: Peter Ort and Michael Sonnenshein intend to join Pubco’s board upon closing, subject to regulatory approval (press release dated Feb 23, 2026; Ex. 99.1).

Why It Matters
This filing confirms a transformational deal that will convert DAAQ from a Cayman-incorporated SPAC vehicle into a Texas-based bank holding/public company (OGB Financial) after the merger with Old Glory Bank. The announced board additions and the jurisdiction/name change are material governance and structural developments for shareholders. Closing remains subject to regulatory approvals and other customary conditions; investors should watch upcoming filings for transaction timing, regulatory outcomes and detailed financial terms.