Digital Finance Firm Delays Shareholder Vote on Bank Merger
Princeton, Friday, 31 July 2026.
Digital Asset Acquisition Corp. has postponed its pivotal merger vote with Old Glory Bank to August 14, 2026, just days after its shareholder redemption deadline passed.
Digital Asset Acquisition Corp. Delays Shareholder Vote
Digital Asset Acquisition Corp. (Nasdaq: DAAQ) has officially announced the postponement of its upcoming shareholder meeting [1]. The Princeton-based special purpose acquisition company stated that additional time is required to finalize documentation and allow shareholders adequate time to review supplemental information [1]. This delay highlights ongoing market scrutiny and regulatory considerations surrounding SPAC transactions in the digital asset and fintech sectors [1]. The announcement was made via press release on July 30, 2026, just one day before the originally scheduled vote [1].
Revised Meeting Logistics and Timeline
The extraordinary general meeting of shareholders has been rescheduled from July 31, 2026, to August 14, 2026, at 10:00 a.m. ET [1]. The redemption deadline for holders of DAAQ Class A ordinary shares was July 29, 2026, which occurred two days prior to the current date of July 31, 2026 2 [1]. The rescheduled meeting will be held at Ashurst Perkins Coie US LLP, located at 1155 Avenue of the Americas, New York, New York 10036 [1]. Shareholders may also attend via live webcast at the provided proxy URL [1].
Transaction Background and Regulatory Filings
DAAQ intends to continue proxy solicitation until the rescheduled meeting on August 14, 2026, to approve the proposed business combination with Old Glory Holding Company [1]. Old Glory Holding Company, also known as Old Glory Bank, is a Delaware corporation [1]. DAAQ and Old Glory Bank have filed a registration statement on Form S-4 with the SEC, which includes the proxy statement and prospectus regarding the business combination [1]. The SEC declared this registration statement effective on July 6, 2026 [1].
Shareholder Rights and Forward-Looking Statements
Shareholders of record as of July 7, 2026, are entitled to vote on the business combination proposals at the rescheduled meeting [1]. As of the July 29, 2026 press release, DAAQ and Old Glory Bank explicitly disclaim any obligation to update forward-looking statements regarding the Business Combination [1]. Peter Ort, Principal Executive Officer and Co-Chairman, noted that the company does not intend to revise these statements whether as a result of new information or future events [1]. The business combination remains subject to various legal, regulatory, and financial risk factors [1].