SPAC DAAQ Pivots to Titan Strategies After Old Glory Deal Collapse
DAAQ sits 59% above its 52-week low of $6.6.
Summary
Digital Asset Acquisition Corp. (DAAQ) announced a new business combination with Titan Strategics, which holds an exploration license over Ranstad, Sweden's largest previously producing uranium mine. The combined company will be named Renaissance Nuclear, Inc. and publicly listed. The merger agreement sets a $250 million base purchase price, payable in 25 million shares, with a $15 million PIPE at $10 per share and a June 1, 2027 outside closing date. The deal implies a pro-forma combined company enterprise value of $318 million, excluding additional earnout shares, and is expected to deliver about $65 million in gross transaction proceeds. This follows the mutual termination of the Old Glory Bank merger on August 13, 2026, which had left the SPAC facing a January 2027 liquidation deadline. The new target provides a fresh path to complete a deal before that deadline. Shares are trading near their 52-week high of $10.49, reflecting renewed optimism.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — The merger agreement sets a $250 million base purchase price, payable in 25 million shares, with a $15 million PIPE at $10 per share and a June 1, 2027 outside closing date.
At the time of this announcement, DAAQ was trading at $10.47 on NASDAQ in the Finance sector, with a market capitalization of approximately $240.8M. The 52-week trading range was $6.60 to $10.49. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.