Digital Asset Acquisition Corp. 8-K

What Happened
Digital Asset Acquisition Corp. (DAAQ) filed an 8‑K (June 18, 2026) disclosing a Business Combination Agreement (entered January 13, 2026) with Old Glory Holding Company (Old Glory Bank). Under the deal DAAQ will deregister as a Cayman Islands company, domesticate as a Texas corporation and change its name to OGB Financial Company (Pubco). Old Glory Bank will merge into Pubco, with Pubco surviving. DAAQ also plans to enter into Non‑Redemption Agreements (NRAs) with unaffiliated holders of Class A Ordinary Shares that would prevent those holders from redeeming their shares in exchange for warrants.

Key Details

• Business Combination Agreement dated January 13, 2026; 8‑K filed June 18, 2026.
• NRA economics: holders who agree not to redeem will receive 3.25 Non‑Redemption Warrants for each Class A Ordinary Share not redeemed.
• Non‑Redemption Warrants: immediately exercisable, expire five years after closing, cash‑only exercise, initial exercise price $12.00 per share (subject to customary anti‑dilution and specified price‑adjustment provisions, including certain VWAP and change‑of‑control adjustments and a floor of $6.00 in one test).
• Regulatory process: DAAQ and Old Glory Bank filed a Form S‑4 registration statement; shareholders will receive a proxy/prospectus once the S‑4 is declared effective.

Why It Matters
This filing describes a transformational merger that will change DAAQ’s jurisdiction, corporate name and business focus by combining with Old Glory Bank. The NRAs and issuance of sizeable warrants (3.25 warrants per non‑redeemed share) could affect future shareholder dilution and capital structure if warrants are exercised. DAAQ shareholders will vote on the transaction after the S‑4 is declared effective; the proxy/prospectus will contain full terms, risk factors and additional details investors should review before voting or making investment decisions.