Digital Asset Acquisition to Merge with Old Glory Bank

Digital Asset Acquisition Corp. Class A ( (DAAQ) ) has issued an update.

On January 13, 2026, Digital Asset Acquisition Corp. (DAAQ), a Nasdaq-listed special purpose acquisition company, and Old Glory Holding Company, the bank holding company for Old Glory Bank, signed a definitive business combination agreement that will see DAAQ domesticate to Texas, rename itself OGB Financial Company and merge with Old Glory Bank in a transaction valuing the bank at $250 million. DAAQ, which currently holds $176 million in its trust account, and Old Glory Bank plan to raise at least an additional $50 million via a PIPE or similar financing, with the combined company expected to list on Nasdaq under the ticker “OGB” in the first half of 2026, subject to shareholder, regulatory and other customary approvals; the deal includes detailed regulatory, capital and compliance conditions typical for a bank-focused SPAC merger, and lock-ups and support agreements that align key sponsors and shareholders. For Old Glory Bank, which has rapidly expanded its deposit base and markets itself as a pro-crypto, pro-“Freedom Economy” alternative to mega banks, the transaction is intended to provide growth capital and a public listing that could strengthen its position as a niche national player at the intersection of traditional banking, digital assets and politically aligned customers, while offering DAAQ investors exposure to a fast-growing, crypto-integrated community bank platform.

More about Digital Asset Acquisition Corp. Class A

Old Glory Bank is a full-service, digital-first, FDIC-insured bank that serves consumers and businesses in all 50 states via an online platform and a physical branch in Elmore City, Oklahoma, with more than 80,000 accounts and deposits that grew from $10 million in April 2023 to over $245 million by December 31, 2025. Positioned as a “Freedom Economy” and DeFi-focused institution, it offers a broad suite of traditional banking products—free personal and business accounts, early direct deposit, overdraft protection, debit and credit cards, home, VA and SBA loans—alongside proprietary services such as Old Glory Pay, Old Glory Cash-IN and Old Glory Alliance, and is developing crypto-integrated offerings including an off-ramp for digital assets and a planned payment stablecoin, OGBUSD.

Average Trading Volume: 39,025

Technical Sentiment Signal: Strong Sell

Current Market Cap: $234.8M

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