Digital Asset Acquisition Corp (DAAQ) is a blank-check special purpose acquisition company incorporated in the Cayman Islands that was formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. The company raised capital through an initial public offering completed on or around April 28, 2025, with proceeds held in a Trust Account pending completion of an initial Business Combination. DAAQ does not generate operating revenue. Its structure includes Class A ordinary shares sold to public investors, Class B ordinary shares held by DAAQ Sponsor LLC, and public and private placement warrants. As of December 31, 2025, DAAQ had not completed a Business Combination and disclosed substantial doubt about its ability to continue as a going concern given a mandatory liquidation date of October 30, 2026 (extendable to January 30, 2027). The company is incorporated in the Cayman Islands and is classified as an emerging growth company under the JOBS Act as of the 10-K filed March 3, 2026.

Revenue model

DAAQ generates no operating revenue. The company holds IPO proceeds in a Trust Account and earns interest on those funds until a Business Combination is consummated or the company liquidates. Working capital needs are funded by the Sponsor or affiliates through loans, up to $1,500,000 of which may be convertible into private placement warrants at $1.00 per warrant.

Products and services

DAAQ's securities consist of Class A ordinary shares, Class B ordinary shares (Founder Shares held by DAAQ Sponsor LLC), units, and warrants including public warrants and private placement warrants. The company's sole purpose is to complete an initial Business Combination with a target in the digital asset sector, as indicated by the company name.

Customers and end markets

DAAQ's public shareholders are its primary capital providers. The intended end market is a target business to be acquired via Business Combination. No operating customers or end markets exist as of the 10-K filed March 3, 2026.

Value-chain role

DAAQ operates as a capital aggregation vehicle in the SPAC market, pooling investor capital via IPO and holding it in trust while sourcing a Business Combination target. DAAQ Sponsor LLC holds Class B ordinary shares and funds working capital loans.

Geographic exposure

Incorporated in the Cayman Islands. U.S.-listed. No operating geographic footprint disclosed in the 10-K filed March 3, 2026.

Source: SEC 10-K, filed 2026-03-03

Industry: State Commercial Banks