Old Glory Bank and DAAQ Merge, Valuation at $250 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Globenewswire
- Merger Agreement: Old Glory Bank has signed a merger agreement with Digital Asset Acquisition Corporation (DAAQ), expected to close by the end of Q1 or early Q2 2026, with plans to list as 'OGB' on Nasdaq, marking a significant advancement in fintech.
- Funding Strategy: The transaction will secure at least $50 million in PIPE financing for Old Glory Bank, combined with DAAQ's $176 million trust account, ensuring ample capital for future business expansion and deposit growth.
- Customer Base Expansion: With over 80,000 personal and business accounts, the merger will further solidify Old Glory Bank's position in the U.S. market, particularly in supporting cryptocurrency and decentralized finance, catering to increasing customer demand.
- Innovative Financial Products: Old Glory Bank plans to launch the OGBUSD stablecoin and self-service crypto loan services, aimed at simplifying customer cryptocurrency transactions and enhancing competitiveness in financial services, further driving the development of its 'Freedom Economy'.
Analyst Views on DAAQ
About DAAQ
Digital Asset Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination in any business or industry, but expect to target opportunities and companies that are in the digital asset, blockchain and cryptocurrency sectors. The Company has not generated any operating revenues.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
