DAAQ Swings to Profit with $1.04M Net Income, $0.05 EPS in Q1 Ahead of Merger
DAAQ is trading near its 52-week low of $10.05 (2.5% above the low) on elevated volume (2.6× avg).
Summary
Digital Asset Acquisition Corp. (DAAQ) reported first-quarter 2026 net income of $1.04 million, or $0.05 per diluted share, a significant improvement from a net loss in the prior year. This positive financial performance stems from investment earnings on the company's Trust Account, as DAAQ has not yet commenced its core operations. The company reiterated its definitive agreement to merge with Old Glory Bank to form OGB Financial Company, with the transaction expected to close in Q2 2026, following the S-4/A filing on May 1st. These results provide a positive financial update for the SPAC as it approaches its critical de-SPAC transaction, offering transparency on its pre-merger asset management. Investors will now focus on the successful completion of the merger and the subsequent operational performance of OGB Financial Company.
At the time of this announcement, DAAQ was trading at $10.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $237.1M. The 52-week trading range was $10.05 to $11.24. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.