Digital Asset Acquisition Corp. Closes Initial Public Offering

Strategic Insights -

Digital Asset Acquisition Corp. has successfully completed its initial public offering, raising $172.5 million through the sale of 17.25 million units at $10 each. The company's Class A ordinary shares and warrants began trading on April 29, 2025, under the ticker symbols "DAAQ" and "DAAQW," respectively. Concurrently, the company closed a private placement of 5.45 million warrants, generating an additional $5.45 million in proceeds.

Key Takeaways:

  • The initial public offering consisted of 17,250,000 units, with each unit priced at $10.00 and consisting of one Class A ordinary share and one-half of one redeemable warrant.
  • Each warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share.
  • The Class A ordinary shares and warrants began trading on Nasdaq under the symbols "DAAQ" and "DAAQW," respectively.
  • The company closed a private placement of 5,450,000 warrants at a price of $1.00 per warrant, resulting in gross proceeds of $5,450,000.
  • DAAQ Sponsor LLC, a division of the company's sponsor, purchased 3,725,000 private placement warrants, Cohen & Company Capital Markets purchased 1,466,250 warrants, and Clear Street purchased 258,750 warrants.

Statistics:

  • The initial public offering raised $172,500,000 in gross proceeds.
  • The company placed $172,500,000 in trust, with $10.00 per unit sold in the public offering.
  • The private placement of warrants generated $5,450,000 in gross proceeds.
  • The total number of warrants issued in the private placement was 5,450,000.

Sources:

  • "Digital Asset Acquisition Corp. Closes Initial Public Offering and Completes Concurrent Private Placement." GlobeNewswire, April 30, 2025.
  • U.S. Securities and Exchange Commission (SEC). "Registration Statement of Digital Asset Acquisition Corp." April 28, 2025.
  • "Cautionary Note Concerning Forward-Looking Statements." Digital Asset Acquisition Corp., April 30, 2025.
  • "Contact Peter Ort." Digital Asset Acquisition Corp., COMTEX_465080213/2010/2025-04-30T13:45:03.