Form 8-K

8-K — Digital Asset Acquisition Corp.

Accession: 0001213900-26-089219

Filed: 2026-08-13

Period: 2026-08-13

CIK: 0002052162

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Entry into a Material Definitive Agreement

Item: Termination of a Material Definitive Agreement

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — ea0302045-8k425_digital.htm (Primary)

EX-10.1 — MUTUAL TERMINATION AND RELEASE AGREEMENT, DATED AUGUST 13, 2026, BETWEEN THE COMPANY AND OLD GLORY (ea030204501ex10-1.htm)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):

August 13, 2026

DIGITAL ASSET ACQUISITION CORP.

(Exact name of registrant as specified in its charter)

Cayman Islands

001-42612

N/A

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

174 Nassau Street,

Suite 2100

Princeton, New Jersey 08542

(Address of principal executive offices, including

zip code)

Registrant’s telephone number, including

area code: (609) 924-0759

Not Applicable

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities

Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange

Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under

the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant

DAAQU

The Nasdaq Stock Market LLC

Class A ordinary shares, par value $0.0001 per share

DAAQ

The Nasdaq Stock Market LLC

Redeemable warrants, each whole redeemable warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share

DAAQW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☒

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On August 13, 2026, Old Glory

Holding Company (“Old Glory”) and Digital Asset Acquisition Corp. (the “Company”) entered into a Mutual Termination

and Release Agreement (the “Termination Agreement”), pursuant to which the parties mutually agreed to terminate the Business

Combination Agreement, dated as of January 13, 2026 (as amended, the “Business Combination Agreement”), between the Company

and Old Glory, and abandon the transactions contemplated by the Business Combination Agreement (the “Transactions”) as of

August 13, 2026 (the “Effective Date”).

Under the Termination Agreement,

on the Effective Date, the Business Combination Agreement is terminated in its entirety and will impose no further liability or obligation

on the Company, Old Glory or their respective representatives, except that Section 9.18 of the Business Combination Agreement will survive

and remain in full force and effect, and all ancillary documents relating to the Transactions will be automatically terminated without

further action, concurrent with the termination of the Business Combination Agreement in accordance with the Termination Agreement.

The foregoing description

of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the text of the Termination

Agreement, a copy of which is filed herewith and incorporated by reference herein and made a part hereof.

Item 1.02 Termination of a Material Definitive

Agreement.

The information contained

in Item 1.01 of this Current Report on Form 8-K with respect to the termination of the Business Combination Agreement and all other ancillary

agreements is incorporated by reference herein and made a part hereof.

Item 8.01 Other Events.

Indefinite Postponement

of Extraordinary General Meeting of Shareholders

As a result of the termination

of the Business Combination Agreement, there is no business to be transacted at the Company’s extraordinary general meeting of shareholders

(the “Meeting”) originally scheduled to be held at 10:00 a.m. Eastern Time on August 14, 2026.

As a result of this change,

the Company will indefinitely postpone the Meeting.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Description

10.1

Mutual Termination and Release Agreement, dated August 13, 2026, between the Company and Old Glory.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

Forward-Looking Statements

This report includes “forward-looking statements”

within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should not

rely on these forward-looking statements as predictions of future events. These forward-looking statements involve significant risks and

uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the

Company’s control and are difficult to predict. Readers are cautioned not to place undue reliance upon any forward-looking statements,

which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates

or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances

on which any such statement is based.

SIGNATURE

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

Dated: August 13, 2026

DIGITAL ASSET ACQUISITION CORP.

By:

/s/ Peter Ort

Name:

Peter Ort

Title:

Principal Executive Officer and Co-Chairman

EX-10.1 — MUTUAL TERMINATION AND RELEASE AGREEMENT, DATED AUGUST 13, 2026, BETWEEN THE COMPANY AND OLD GLORY

EX-10.1

Filename: ea030204501ex10-1.htm · Sequence: 2

Exhibit 10.1

MUTUAL TERMINATION AND RELEASE AGREEMENT

This MUTUAL TERMINATION AND

RELEASE AGREEMENT (the “Agreement”), dated as of August 13, 2026 (the “Effective Date”),

is entered into by and among Old Glory Holding Company, a Delaware corporation, registered

as a Bank Holding Company under the Bank Holding Company Act of 1956 (“Old Glory”) and Digital Asset Acquisition

Corp, a Cayman Islands exempted company (“DAAQ”) (collectively, the “Parties”).

RECITALS

WHEREAS, on January 13, 2026,

the Parties entered into a Business Combination Agreement (the “Business Combination Agreement”), pursuant to

which, among other things, DAAQ was to domesticate as a Texas corporation and thereafter, Old Glory would merge with and into DAAQ;

WHEREAS, pursuant to Section

8.1(a) of the Business Combination Agreement, the Business Combination Agreement may be terminated at any time prior to the Closing by

mutual written consent of DAAQ and Old Glory;

WHEREAS, the Parties have

mutually agreed to terminate the Business Combination Agreement and abandon the Transactions as of the Effective Date; and

WHEREAS, the Board of Directors

of each Party has (i) determined that it is advisable and in the best interest of such Party and its stockholders to enter into this Agreement

and (ii) approved the execution, delivery and performance by such Party of this Agreement and the transactions contemplated hereby.

STATEMENT OF AGREEMENT

NOW, THEREFORE, in consideration

of the foregoing premises and the respective representations, warranties, covenants and agreements contained herein, and intending to

be legally bound, the Parties hereto hereby agree as follows:

Article

DEFINITIONS

SECTION 1.01 Definitions.

Unless otherwise specifically defined herein, each capitalized term used but not defined herein shall have the meaning assigned to such

term in the Business Combination Agreement.

Article

TERMINATION

SECTION 2.01 Termination

of Business Combination Agreement. On the Effective Date, without any further action of the Parties thereto, the Business Combination

Agreement is terminated in its entirety, is null and void and there shall be no liability or obligation on the part of Old Glory, DAAQ

or their respective Representatives under the Business Combination Agreement, except that Section 9.18 of the Business Combination

Agreement shall survive any termination of the Business Combination Agreement and remain in full force and effect. The Parties hereto

acknowledge that, by virtue of the termination of the Business Combination Agreement, each of the Ancillary Documents shall be automatically

terminated, without further action on the part of the parties thereto, concurrent with the termination of the Business Combination Agreement

in accordance with this Agreement.

Article

III

RELEASES AND COVENANT NOT TO SUE

SECTION 3.01 DAAQ

Party Release. On the Effective Date, DAAQ, for itself and its officers, directors, predecessor entities, successors and assigns,

parents, subsidiaries, and Affiliates (“DAAQ Releasing Parties”), hereby fully releases and discharges Old

Glory, and its subsidiaries and Affiliates and its respective officers, directors, managing directors, partners, members, predecessor

entities, successors and assigns, parents, subsidiaries, Affiliates, stockholders, employees, attorneys and other advisors and agents

(collectively, “DAAQ Released Persons”) from any and all claims, actions, causes of action, demands and charges

of whatever nature, known or unknown, arising out of, or relating to any of the Business Combination Agreement or the transactions contemplated

thereby, and including any acts, omissions, disclosure or communications related to the Business Combination Agreement or the transactions

contemplated thereby (the “DAAQ Released Claims”); provided that, for the avoidance of doubt, nothing

contained herein shall be deemed to release any party hereto from its obligations under this Agreement or the provisions of the Business

Combination Agreement expressly deemed to survive under this Agreement.

SECTION 3.02 Old

Glory Party Release. On the Effective Date, Old Glory, for itself and its officers, directors, predecessor entities, successors and

assigns, parents, subsidiaries, and Affiliates (“Old Glory Releasing Parties”), hereby fully releases and discharges

the DAAQ Releasing Parties, and their parents, subsidiaries and Affiliates and their respective officers, directors, managing directors,

partners, members, predecessor entities, successors and assigns, parents, subsidiaries, Affiliates, stockholders, employees, attorneys

and other advisors and agents (collectively, “Old Glory Released Persons”) from any and all claims, actions,

causes of action, demands and charges of whatever nature, known or unknown, arising out of, or relating to any of the Business Combination

Agreement or the transactions contemplated thereby, and including any acts, omissions, disclosure or communications related to the Business

Combination Agreement or the transactions contemplated thereby (the “Old Glory Released Claims”); provided

that, for the avoidance of doubt, nothing contained herein shall be deemed to release any party hereto from its obligations under

this Agreement or the provisions of the Business Combination Agreement expressly deemed to survive under this Agreement.

SECTION 3.03 Scope

of Release and Discharge. The Parties acknowledge and agree that they may be unaware of or may discover facts in addition to or different

from those which they now know or believe to be true related to or concerning the DAAQ Released Claims and Old Glory Released Claims

(collectively, the “Released Claims”). The Parties know that such presently unknown or unappreciated facts

could materially affect the claims or defenses of a Party or Parties. It is nonetheless the intent of the Parties to give a full and

complete release and discharge of the Released Claims.

SECTION 3.04 Covenant

not to Sue. Each of the Parties hereto covenants, on behalf of itself; in the case of the DAAQ, on behalf of the DAAQ Releasing Parties;

in the case of Old Glory on behalf of the Old Glory Releasing Parties, not to bring any Released Claim before any court, arbitrator,

or other tribunal in any jurisdiction, whether as a claim, a cross-claim, counterclaim or otherwise. Any Released Person may plead this

Agreement as a complete bar to any Released Claim brought in derogation of this covenant not to sue.

SECTION 3.05 Accord

and Satisfaction. This Agreement and the releases reflected herein shall be effective as a full and final accord and satisfaction

and release of all of the Released Claims.

Article

REPRESENTATIONS AND WARRANTIES

SECTION 4.01 Representations

and Warranties. Each of the Parties hereto represents and warrants to the other Parties that:

(a) It

has not heretofore assigned or transferred, or purported to assign or transfer, to any person or entity any claim or cause of action released

pursuant to Article III of this Agreement;

(b) There

are no liens or claims of lien, or assignments in law or equity or otherwise, of or against any claim or cause of action released pursuant

to Article III of this Agreement;

has duly executed and delivered this Agreement and is fully authorized to enter into and perform this Agreement and every term hereof;

(d) It

has been represented by legal counsel in the negotiation and joint preparation of this Agreement, has received advice from legal counsel

in connection with this Agreement and is fully aware of this Agreement’s provisions and legal effect;

(e) It

enters into this Agreement freely, without coercion, and based on its own judgment and not in reliance upon any representations or promises

made by the other Party, apart from those set forth in this Agreement; and

(f) It

has the authority, and has obtained all necessary approvals, including but not limited to approval of the Parties’ respective Boards

of Directors, as necessary, to enter into this Agreement and all the releases, undertakings, covenants, representations, warranties and

other obligations and provisions contained in this Agreement.

Article

GENERAL PROVISIONS

SECTION 5.01 Publicity.

Immediately following the execution and delivery of this Agreement, DAAQ shall issue a Current Report on Form 8-K, which shall include

a copy of this Agreement as an exhibit. Except as to communications required by Law or applicable stock exchange regulation, the Parties

shall, to the extent practicable, consult with each other as to the timing and contents of any other press release or public announcement

in respect of this Agreement, the Business Combination Agreement or the transactions contemplated hereby and thereby.

SECTION 5.02 Notices.

All notices and other communications hereunder must be in writing and shall be delivered by hand, overnight courier or email, and will

be deemed to have been duly delivered and received hereunder (i) one (1) Business Day after being sent for next Business Day delivery,

fees prepaid, via a reputable nationwide overnight courier service; (ii) immediately upon delivery by hand; or (iii) at the time sent

(if sent before 5:00 p.m., addressee’s local time and on the next Business Day if sent after 5:00 p.m., addressee’s local

time), if sent by email of a .pdf, .tif, .gif, .jpg or similar attachment; provided, that any notice provided by email shall state in

such email that it is a notice delivered pursuant to this Section 5.2, in each case to the intended recipient as set forth in Section

9.4 of the Business Combination Agreement.

SECTION 5.03 Counterparts;

Effectiveness. This Agreement may be executed in two or more consecutive counterparts (including by facsimile), each of which shall

be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective

when one or more counterparts have been signed by each of the Parties and delivered (by telecopy or otherwise) to the other Parties.

SECTION 5.04 Governing

Law. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Texas, without giving effect

to the conflicts of laws principles thereof that might lead to the application of laws other than the Laws of the State of Texas. All

Actions that, directly or indirectly, arise out of or relate to this Agreement shall be heard and determined exclusively in any Texas

state or United States federal court in Harris County, Texas; provided, however, that if such court does not have jurisdiction

over such Action, such Action shall be heard and determined exclusively in any Texas state court or United States federal court sitting

in the State of Texas. Consistent with the preceding sentence, each of the parties hereto hereby (a) submits to the exclusive jurisdiction

of any federal or state court sitting in the State of Texas for the purpose of any Action brought by any party hereto that, directly

or indirectly, arises out of or relates to this Agreement; (b) agrees that service of process in such Action will be validly effected

by sending notice in accordance with Section 5.2; (c) irrevocably waives and releases, and agrees not to assert by way of motion,

defense, or otherwise, in or with respect to any such Action, any claim that (i) such Action is not subject to the subject matter jurisdiction

of at least one of the above-named courts; (ii) its property is exempt or immune from attachment or execution in the State of Texas;

(iii) such Action is brought in an inconvenient forum; (iv) that the venue of such Action is improper; or (v) this Agreement or the transactions

contemplated by this Agreement may not be enforced in or by any of the above-named courts; and (d) agrees not to move to transfer any

such Action to a court other than any of the above-named courts.

SECTION 5.05 WAIVER

OF JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE PURSUANT TO THIS AGREEMENT IS LIKELY TO INVOLVE

COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT THAT SUCH PARTY MAY

HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT.

SECTION 5.06 Assignment;

Binding Effect. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the

Parties hereto (whether by operation of Law or otherwise) without the prior written consent of the other Parties. This Agreement shall

be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and, subject to the preceding sentence,

assigns.

SECTION 5.07 Severability.

Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective

to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of

this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, such provision shall

be interpreted to be only as broad as is enforceable.

SECTION 5.08 Entire

Agreement; No Third-Party Beneficiaries. This Agreement constitutes the entire agreement of the Parties hereto with respect to the

subject matter hereof, and supersedes all other prior agreements and understandings, both written and oral, between the Parties, or any

of them, with respect to the subject matter hereof and thereof. Each Party hereto acknowledges and agrees that each of the non-Party

Released Persons are express third party beneficiaries of the releases of such non-Party Released Persons contained in Sections 3.1,

3.2 and 3.3 and covenants not to sue contained in Section 3.4 of this Agreement and are entitled to enforce rights under such sections

to the same extent that such non-Party Released Persons could enforce such rights if they were a party to this Agreement. Except as provided

in the preceding sentence, there are no third party beneficiaries to this Agreement, and this Agreement is not otherwise intended to

and shall not otherwise confer upon any Person other than the Parties hereto any rights or remedies hereunder.

SECTION 5.09 Headings.

Headings of the Articles and Sections of this Agreement are for convenience of the Parties only and shall be given no substantive or

interpretive effect whatsoever.

SECTION 5.10 Interpretation.

When a reference is made in this Agreement to an Article or Section, such reference shall be to an Article or Section of this Agreement

unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this

Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof,” “herein”

and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not

to any particular provision of this Agreement. The word “or” shall be deemed to mean “and/or.” The definitions

contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as

to the feminine and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein or in any agreement

or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented,

including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor

statutes and references to all attachments thereto and instruments incorporated therein. Each of the Parties has participated in the

drafting and negotiation of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement must be construed

as if it is drafted by all the Parties, and no provision of this Agreement shall be construed against any party based on its authorship

of any of the provisions of this Agreement.

SECTION 5.11 Non-Disparagement

SECTION 5.12 . Each Party

agrees that it will refrain from making negative or disparaging remarks about the other Party or such other Party’s affiliates or

otherwise take any action which could reasonably be expected to adversely affect such Party or such Party’s affiliate’s personal

or professional reputation.

SECTION 5.12 Expenses.

All fees, costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the

Party incurring such expenses. The Parties acknowledge that no termination fee is due or shall otherwise be payable by any Party in connection

with the Termination.

IN WITNESS WHEREOF, each of

the undersigned have caused this Agreement to be duly executed and delivered as of the date first above written.

DIGITAL ASSET ACQUISITION CORP.

By:

/s/ Peter Ort

Name:

Peter Ort

Title:

Principal Executive Officer and Co-Chairman

OLD GLORY HOLDING COMPANY

By:

/s/ Michael P. Ring

Name:

Michael P. Ring

Title:

Chief Executive Officer

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Local phone number for entity.

+ References

No definition available.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Title of a 12(b) registered security.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

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Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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No definition available.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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