Old Glory Bank and Digital Asset Acquisition Corp. Announce Business Combination Agreement to Create a Texas Company Publicly Listed on Nasdaq

Old Glory Bank, serving customers in all 50 states with its pro-America online banking platform, and Digital Asset Acquisition Corporation (Nasdaq: DAAQ) (“DAAQ”), a special purpose acquisition company, today announced that DAAQ and Old Glory Bank’s Bank Holding Company have entered into a definitive business combination agreement to create OGB Financial Company, a Texas corporation to be listed on Nasdaq under the reserved ticker symbol “OGB.” The closing of the transaction is expected to occur at the end of the first quarter or early in the second quarter of 2026 and is subject to approval by the shareholders of the parties and other customary closing conditions, including regulatory approval.

DAAQ currently has $176 million in its trust account, and Old Glory Bank’s pre-money valuation will be $250 million in this transaction. The parties intend to arrange a PIPE or other proceeds of at least $50 million for closing. Additional information about the transaction will be provided in a Current Report on Form 8-K, which will include an investor presentation to be filed with the Securities and Exchange Commission and will be available at www.sec.gov.

“Old Glory Bank’s holding company already has more than 6,000 patriotic stockholders. This transaction and the related listing on Nasdaq will provide the capital necessary for us to continue growing deposits while ensuring that the great Americans living on Main Street, who we serve from sea to shining sea, can also be owners,” said former HUD Secretary Dr. Ben Carson, Co-Founder and Board Member of Old Glory Bank Holding Company.

Old Glory Bank is a full-service, digital-first bank with over 80,000 personal and business accounts in all 50 states and several countries. Old Glory Bank has a physical branch in Elmore City, Oklahoma, and started serving customers with online accounts in April of 2023. It has since grown deposits more than 2,000% from $10 million to over $245 million as of December 31, 2025.

“Old Glory Bank has continued to push back against debanking and continues to support America’s important industries like crypto, firearms, oil and gas, and agriculture. We proudly started offering bank accounts to the crypto community in early 2024, and we never succumbed to the Biden Administration’s Operation Chokepoint 2.0,” says Co-Founder and Director of Old Glory Holding Company, Larry Elder, Radio and TV Host, former California gubernatorial candidate, and former presidential candidate.