Digital Asset Acquisition Prices $150 Million IPO

MT Newswires Live

Apr 29

Digital Asset Acquisition (DAAQ) said late Monday that it priced its initial public offering of 15 million units at $10 per unit for gross proceeds of $150 million.

The units comprise one class A ordinary share and one-half of a redeemable warrant, with each whole warrant exercisable at $11.50 per share to purchase one class A share. The trading will begin Tuesday on the Nasdaq under the ticker symbol 'DAAQU.'

It added that once the units begin trading separately, the shares and warrants will trade under 'DAAQ' and 'DAAQW,' respectively.

Digital Asset Acquisition said the offering is expected to close on Wednesday, and underwriters have a 45-day option to purchase up to 2.25 million additional units to cover over-allotments.

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