공고 • Aug 14
Old Glory Holding Co cancelled the acquisition of Digital Asset Acquisition Corp. (NasdaqGM:DAAQ) from group of shareholders in a reverse merger transaction. Old Glory Holding Co signed a letter of intent to acquire Digital Asset Acquisition Corp. (NasdaqGM:DAAQ) from group of shareholders in a reverse merger transaction on October 31, 2025. Old Glory Holding Co entered in a definitive business combination agreement to acquire Digital Asset Acquisition Corp. from group of shareholders for $250 million in a reverse merger transaction on January 13, 2026. DAAQ shall domesticate as a Texas corporation with the continuing entity following the Domestication to be renamed “OGB Financial Company.” Following the Closing, the OGB Pubco Common Stock and OGB Pubco Warrants are expected to be listed under the proposed symbols “OGB” and “OGBW,” respectively.
The transaction is subject to board approvals, shareholders' approval, regulatory approvals including Antitrust Regulations, listing approval, minimum cash condition, effectiveness of registration statement and fulfilment of the other closing conditions. The board unanimously approved the transaction. The transaction is expected to complete in the first half of 2026. It is currently expected that the Business Combination will be consummated in the second half of 2026.
Elliott Smith and Gina Eiben of Ashurst LLP acted as legal advisor for DAAQ. Elliott Smith, Sarah Ross, Jordan Leon and Gina Eiben of Perkins Coie LLP acted as legal advisor for Digital Asset Acquisition Corp. Giovanni Caruso of Loeb & Loeb LLP and Paul Foster of Paul Foster Law Offices, PC acted as legal advisors for Old Glory Holding Co. Clear Street LLC acted as financial advisor for Old Glory Holding Co. Cohen & Company Capital Markets, LLC acted as financial advisor for Digital Asset Acquisition Corp. Efficiency Inc. served as transfer agent to DAAQ. Alliance Advisors, LLC acted as information agent for DAAQ and paid $0.02 million fee.
Old Glory Holding Co cancelled the acquisition of Digital Asset Acquisition Corp. (NasdaqGM:DAAQ) from group of shareholders in a reverse merger transaction on August 13, 2026. New Risk • Jul 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$6.3m). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to US$6.89, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 38x in the Capital Markets industry in the US. Total loss to shareholders of 34% over the past year. 공고 • Jan 13
Old Glory Holding Co entered in a definitive business combination agreement to acquire Digital Asset Acquisition Corp. (NasdaqGM:DAAQ) in a reverse merger transaction. Old Glory Holding Co entered in a definitive business combination agreement to acquire Digital Asset Acquisition Corp. (NasdaqGM:DAAQ) in a reverse merger transaction on January 13, 2026. DAAQ shall domesticate as a Texas corporation with the continuing entity following the Domestication to be renamed “Old Glory Financial Company”.
The transaction is subject to board approvals, shareholders' approval, regulatory approvals including Antitrust Regulations and fulfilment of the other closing conditions. The board unanimously approved the transaction. The transaction is expected to complete in the first half of 2026.
Elliott Smith and Gina Eiben of Perkins Coie LLP acted as legal advisor for Digital Asset Acquisition Corp. Giovanni Caruso of Loeb & Loeb LLP and Paul Foster of Paul Foster Law Offices, PC acted as legal advisors for Old Glory Holding Co. Clear Street LLC acted as financial advisor for Old Glory Holding Co. Cohen & Company Capital Markets, LLC acted as financial advisor for Digital Asset Acquisition Corp. 공고 • Aug 15
Digital Asset Acquisition Corp. announced delayed 10-Q filing On 08/14/2025, Digital Asset Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.