SCHEDULE: Saba Capital Discloses 4.22% Stake in Digital Asset
Beneficial Ownership Report (Amendment)
Saba Capital Management, L.P. and affiliates report a 4.22% beneficial ownership stake in Digital Asset Acquisition Corp., comprising common shares and warrants.
Summary
- Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein collectively beneficially own 1,321,140 shares of Digital Asset Acquisition Corp.
- This ownership represents 4.22% of the company's class of securities.
- The calculation is based on 31,325,000 shares outstanding as of June 12, 2025, which includes 17,250,000 Ordinary Shares and 14,075,000 Warrants.
- The reported beneficial ownership includes 850,000 ordinary shares and 471,140 Warrants.
- The filing is an Amendment No. 1 to a previous Schedule 13G.
- The Reporting Persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The filing is a standard beneficial ownership report (Schedule 13G Amendment) and does not contain information that would inherently suggest a positive or negative sentiment regarding the issuer's operational performance or future prospects. It simply discloses a significant passive ownership stake.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Management Comments
- The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.
Industry Context
This filing indicates a significant passive investment by a prominent investment firm, Saba Capital Management, in a digital asset acquisition company. Such investments are common in the SPAC and digital asset sectors, where institutional investors take positions in companies with potential for future growth or M&A activity.
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| NA | NA | NA | NA | NA |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| NA | NA | NA | NA |
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: The disclosure of a significant stake by an institutional investor like Saba Capital Management may be viewed positively by other shareholders, indicating institutional confidence or interest in the company. It also signals a potential large holder who could influence future corporate actions, though the filing explicitly states the stake is passive.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 2025-06-12 | Date of 10-Q filing by Digital Asset Acquisition Corp. disclosing 31,325,000 shares outstanding. |
| 2025-06-30 | Date of event which requires the filing of this statement. |
| 2025-08-13 | Date of filing of this Schedule 13G Amendment No. 1. |
Keywords
Digital Asset Acquisition Corp, Saba Capital Management, Beneficial Ownership, Schedule 13G, Common Shares, Warrants, Investment Firm, SEC Filing
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