Digital Asset Acquisition Corp. is a SPAC — a shell company with no operations — formed to acquire a private business and take it public. The company raised $172.5M in its April 2025 IPO and holds those proceeds in a trust invested in U.S. Treasury securities. Digital Asset Acquisition Corp. has an 18-21 month window to complete an acquisition, after which it must return the trust to shareholders if no deal closes. The sponsor, DAAQ Sponsor LLC, received 5.75M Founder Shares for a nominal $25,000 contribution; these shares convert to equity if a deal closes but are worthless if no deal is completed — a structure that incentivizes the sponsor to close a transaction. Public shareholders who don't want to participate in the chosen deal can redeem their shares at approximately $10.00 per share. Digital Asset Acquisition Corp. has announced a definitive merger agreement with Old Glory Bank, a digital-first bank focused on personal and small business banking. The combined company would list on Nasdaq under the ticker "OGB," with the deal expected to close in Q2 2026, pending shareholder and regulatory approval. The transaction will be funded through a combination of the trust proceeds and a PIPE, and existing Old Glory Bank shareholders are rolling 100% of their equity into the combined company.