DAAQ Delays Critical Merger Vote to August 14 as Going-Concern Clock Ticks
DAAQ sits 33% above its 52-week low of $6.6.
Summary
DAAQ postponed its shareholder meeting to approve the Old Glory Bank merger by two weeks, to August 14, 2026. The delay extends uncertainty for a SPAC already under a going-concern warning and facing a January 2027 liquidation deadline.
Key Events · M&A and Partnerships · DAAQ
-
Merger Vote Postponed
The extraordinary general meeting to approve the Old Glory Bank business combination has been moved from July 31 to August 14, 2026, at 10:00 a.m. ET.
-
Redemption Window Closed
Class A shareholders had until July 29, 2026 to redeem shares — a deadline that passed before the postponement was announced, so no new redemptions are triggered.
-
Going-Concern Pressure
DAAQ previously warned it must complete the merger by January 2027 to avoid liquidation; the delay compresses the timeline and increases execution risk.
-
Proxy Solicitation Continues
The record date remains July 7, 2026; DAAQ will continue soliciting proxies during the extended period, suggesting the vote may not yet be secured.
Analysis · DAAQ · Finance
Digital Asset Acquisition Corp. (DAAQ) has pushed its shareholder vote on the Old Glory Bank merger from July 31 to August 14, 2026. The delay comes against a backdrop of a going-concern warning and a January 2027 liquidation deadline — every week matters. The redemption deadline has already passed, so the postponement does not reopen the exit window, but it extends the period of uncertainty and proxy solicitation. The merger is the company's only path to survival; any delay raises the risk of deal failure or further concessions to secure votes.
At the time of this filing, DAAQ was trading at $8.75 on NASDAQ in the Finance sector, with a market capitalization of approximately $193.2M. The 52-week trading range was $6.60 to $10.51. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.