Noticias y eventos de Digital Asset Acquisition Corp (DAAQ)DAAQDigital Asset Acquisition Corp

Digital Asset Acquisition Merges with Titan Strategics, Valued at $318 Million

Digital Asset Acquisition announced that it has entered into a merger agreement with Titan Strategics Holdings, the direct owner of 100% of the equity interests in Titan Strategics, the exploration license holder over the former Ranstad uranium mine and the surrounding Billingen uranium district in Sweden. Upon closing, the combined company is expected to operate under the new name of Renaissance Nuclear. The proposed business combination remains subject to the receipt of all necessary shareholder and regulatory approvals, and other customary closing conditions. Titan Strategics holds the exploration permits for the Billingen Uranium Project in south-central Sweden, a district-scale land package that takes in the former Ranstad mine. Ranstad was the cornerstone of Sweden's plan for nuclear fuel self-sufficiency and produced uranium from 1965 to 1969, until low prices at the time forced its closure. In the 1970s, LKAB became a co-manager and drew up plans to restart and expand it. Now, with the ban lifted, AI driving power demand and Europe racing to replace Russian nuclear fuel, Titan intends to bring this historic district back to life with modern exploration. The project sits about 5 kilometers from Skovde and 150 kilometers from Gothenburg, Scandinavia's largest container port, with highway, rail and grid power already in place. The proposed business combination will bring together proven leadership in mine development, nuclear energy and capital markets. The combined company is expected to be led by executive chairman Adam Clode. The proposed Business Combination implies a pro-forma combined company enterprise value of $318 million, excluding additional earnout shares. The transaction is expected to deliver approximately $65 million in gross transaction proceeds, consisting of cash held in DAAQ's trust account (assuming no redemptions by DAAQ's public shareholders) and including a minimum of $15 million of common equity in the form of a PIPE (Private Investment in Public Equity) investment from institutional investors. The combined company expects to use the net proceeds for general corporate purposes, exploration and advancement of the Billingen Uranium Project, and transaction expenses. Under the terms of the Merger Agreement, Titan's existing equity holders will convert 100% of their equity into 25,000,000 shares of Pubco and are expected to own approximately 70% of Pubco upon consummation of the proposed Business Combination, excluding warrants, shares reserved under equity compensation plans and any DAAQ investors who elect to redeem their shares. The proposed business combination is expected to be completed in early 2027, subject to customary closing conditions, including shareholder and regulatory approvals. The combined public company is expected to be named "Renaissance Nuclear, Inc." and to list its common stock and warrants to purchase common stock on either Nasdaq or the NYSE, subject to satisfaction of initial listing requirements. The proposed business combination has been unanimously approved by the board of directors of Titan and the board of directors of DAAQ.

Digital Asset Acquisition Corp Trading Halted, News Pending

Digital Asset Acquisition Corp trading halted, news pending

Digital Asset Acquisition Corp Trading Halted Due to Volatility

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