Digital Asset Acquisition, a blank check company targeting digital asset and cryptocurrency businesses, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Digital Asset Acquisition is led by CEO and Co-Chair Peter Ort, who currently serves as a General Partner at Cambium Capital Management, a venture firm focused on early-stage investments in the advanced computing sector. He is joined by CFO and Co-Chair Jeff Tuder, the founder of Tremson Capital Management. The SPAC plans to focus its search initially on identifying companies in the digital asset and cryptocurrency and adjacent sectors that power transformation and innovation. The company states that its expertise lends itself well to pursuing platforms related to the digital asset, real estate, and related technology infrastructure sectors.
Digital Asset Acquisition plans to list on the Nasdaq under the symbol DAAQU. Cohen & Company Securities and Clear Street acted as joint bookrunners on the deal.
