Digital Asset Acquisition Shares Climb After Terminating Combination Agreement

Dow Jones

08/14

Shares of Digital Asset Acquisition were higher after the company mutually agreed to terminate its business combination with Old Glory Holding.

The stock jumped 42%, to $10.32, in premarket trading.

The companies said the business-combination agreement has been terminated in its entirety and will impose no further liability or obligation on Digital Asset Acquisition, Old Glory or their respective representatives, according to a filing with the Securities and Exchange Commission late Thursday.

As a result of the termination, the extraordinary general meeting of shareholders, originally scheduled to be held Friday, will be postponed indefinitely.

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