DAAQ Delays Critical Merger Vote to August 14 as Going-Concern Pressure Mounts
DAAQ sits 33% above its 52-week low of $6.6.
Summary
DAAQ postponed its shareholder meeting to approve the Old Glory Bank merger from July 31 to August 14, 2026. The delay adds two weeks of uncertainty to a deal critical for avoiding liquidation, with the redemption deadline already passed.
Key Events · M&A and Partnerships · DAAQ
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Meeting Postponed to August 14
The extraordinary general meeting to approve the Old Glory Bank merger has been rescheduled from July 31 to August 14, 2026, at 10:00 a.m. Eastern Time.
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Redemption Deadline Already Passed
The deadline for public shareholders to redeem shares was July 29, 2026, and is not extended by the postponement.
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Going-Concern Risk Persists
DAAQ has a going-concern warning and must complete the merger by January 2027 to avoid liquidation; any delay heightens execution risk.
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Proxy Solicitation Continues
DAAQ will continue soliciting proxies from shareholders of record as of July 7, 2026, with no change to the proposed resolutions.
Analysis · DAAQ · Finance
Digital Asset Acquisition Corp. has pushed its shareholder vote on the Old Glory Bank merger from July 31 to August 14, 2026. The delay arrives while the company operates under a going-concern warning and must close the deal by January 2027 to avoid liquidation. Because the redemption deadline already passed on July 29, the postponement does not reopen the redemption window, but it extends the period of uncertainty and proxy solicitation. The merger is essential for Old Glory Bank's survival and DAAQ's continued existence, making any timeline shift material.
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.