Digital Asset Acquisition to combine with Titan Strategics in $318 million deal
DAAQ•Digital Asset Acquisition Corp. will combine with Titan Strategics, an exploration license holder over Sweden’s Ranstad uranium mine, to form Renaissance Nuclear. The pro forma company enterprise value is $318 million, Titan equity holders will own 70% with 25 million shares, and the company has a signed commitment for a $15 million PIPE investment.
1. Combination terms
Digital Asset Acquisition Corp. will combine with Titan Strategics, which holds an exploration license over Ranstad, described in the announcement as Sweden’s largest previously producing uranium mine. The combined company will operate as Renaissance Nuclear after closing and be publicly listed.
2. Ownership and financing
The pro forma combined company enterprise value is $318 million. Titan equity holders will own 70% of the public company with 25 million shares, and Digital Asset Acquisition Corp. has received a signed commitment for a $15 million PIPE investment.
