Digital Asset Acquisition Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 13, 2026, reporting net income of $1,263,332 for the third quarter and $181,667,954 held in its Trust Account.

Key Highlights

  • Trust Account balance: Marketable securities held in the Trust Account totaled $181,667,954 as of September 30, 2026, up from $177,124,457 at December 31, 2025.
  • Redemption value per share: The 17,250,000 Class A ordinary shares subject to possible redemption carried a redemption value of $10.53 per share at September 30, 2026, compared to $10.27 per share at December 31, 2025.
  • Q3 net income: The company reported net income of $1,263,332 for the three months ended September 30, 2026, driven by net earnings on marketable securities held in the Trust Account of $1,570,721.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $3,647,336, compared to $2,665,323 for the same period in 2025.
  • General and administrative expenses: G&A expenses were $910,710 for the nine months ended September 30, 2026, compared to $289,520 for the nine months ended September 30, 2025.
  • Shareholders' deficit: Total shareholders' deficit stood at $(6,737,417) at September 30, 2026, widening from $(5,841,256) at December 31, 2025.
  • Cash position: Cash and cash equivalents were $152,522 at September 30, 2026, down from $1,060,921 at December 31, 2025.

Digital Asset Acquisition Corp. Reports Q3 2026 Financial Results as SPAC Trust Grows

According to the filing, Digital Asset Acquisition Corp. (NASDAQ:DAAQ), a blank check company incorporated in the Cayman Islands, reported total assets of $181,878,616 as of September 30, 2026, with the vast majority consisting of marketable securities held in its Trust Account. The company disclosed that its 17,250,000 Class A ordinary shares subject to possible redemption were valued at a redemption price of $10.53 per share at the quarter's end, up from $10.27 per share at December 31, 2025.

For the three months ended September 30, 2026, the registrant reported a loss from operations of $310,210 attributable to general and administrative expenses, which was more than offset by net earnings on marketable securities held in the Trust Account of $1,570,721, resulting in net income of $1,263,332. For the nine-month period, operating losses totaled $910,710 against trust earnings of $4,543,144 and cash equivalent earnings of $14,902, producing net income of $3,647,336. Basic and diluted net income per Class A ordinary share was $0.05 for Q3 2026 and $0.16 for the nine months ended September 30, 2026, according to the filing.

The company's total liabilities were $6,948,079 at September 30, 2026, which included a deferred underwriting fee payable of $6,900,000 that was unchanged from December 31, 2025. The filing disclosed that as of November 13, 2026, there were 17,250,000 Class A ordinary shares and 5,750,000 Class B ordinary shares issued and outstanding. The company indicated it is a shell company and an emerging growth company under applicable Exchange Act definitions.

What Was Disclosed

Digital Asset Acquisition Corp. disclosed its unaudited condensed financial statements for the quarter and nine months ended September 30, 2026, showing Trust Account growth to $181,667,954, net income of $1,263,332 for Q3, and a total shareholders' deficit of $(6,737,417).