Digital Asset Acquisition Shares Climb After Terminating Combination Agreement
Dow Jones
Aug 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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