DAAQ — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-03

• On July 7, 2026, the Company filed a definitive proxy statement/prospectus on Form 424(b)(3) with the SEC in connection with the previously announced Business Combination with Old Glory Bank (the “OGB Business Combination”), pursuant to the Business Combination Agreement.

• Under the terms of the Business Combination Agreement, (i) the Company will domesticate from a Cayman Islands exempted company to a Texas corporation (the “Domestication”) and, in connection therewith, will change its name to “OGB Financial Company” (“Pubco”), and (ii) Old Glory Bank will merge with…

• At the effective time of the Merger, outstanding Old Glory Bank Class A and Class B shares will be exchanged for shares of the Pubco Common Stock based on a $250.0 million equity value (adjusted for closing indebtedness and unrestricted cash) and a $10.00 per share reference price, and outstanding O…

• Prior to the closing of the OGB Business Combination, the Company intends to enter into non-redemption agreements with unaffiliated third-party holders of Class A ordinary shares (the “NRA Investors”), pursuant to which the NRA Investors will agree not to redeem their shares in connection with the e…

• Consummation of the OGB Business Combination remains subject to shareholder approval, bank regulatory approvals, Nasdaq listing approval, completion of the redemption of public shares, and other customary closing conditions.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• The transaction is expected to be funded by a combination of the Company’s Trust Account and expected proceeds from a public investment in private equity. Existing Old Glory Bank investors will rollover 100% of their equity as part of the transaction. The closing of the transaction (the “Closing”) i…

• We have neither engaged in any operations nor generated any revenues to date. Our only activities for the period from December 9, 2024 (inception) through March 31, 2026 were organizational activities and those necessary to prepare for our Initial Public Offering, as described below. We do not expec…

• For the three months ended March 31, 2026, we had net income of $1,038,689, which resulted from investment earnings on marketable securities held in the Trust Account of $1,457,920 and investment earnings on marketable securities held in the Operating Account of $7,211 offset by general and administ…

• For the three months ended March 31, 2025, we had a net loss of $54,616, which resulted from general and administrative expenses of $54,616.

• For the three months ended March 31, 2026, net cash used in operating activities was $446,855. Net income of $1,038,689 was adjusted for earnings on marketable securities in our Trust Account of $1,457,920. Changes in operating assets and liabilities used $27,624 of cash for operating activities pri…