Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 88

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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The underwriters were entitled to a cash underwriting
discount of $0.05 per Unit, or 0.5% of the gross proceeds of the Initial Public Offering, or $1,150,000 in the aggregate, paid at the
closing of the Initial Public Offering and the over-allotment option closing. In addition, the underwriters are entitled to a deferred
fee of $0.30 per Unit, or 3.0% of the gross proceeds of the Initial Public Offering, or $6,900,000 in the aggregate, of which 25.0% will
be adjusted net of redemptions (i.e., for purposes of calculating the deferred underwriting commission net of redemptions, 25.0% of the
deferred underwriting commissions will determined by the dollar amount that is product of (i) 3.0% multiplied by the product of the number
of unredeemed public shares, multiplied by $10.00 and (ii) 25.0%). The deferred fee becomes payable to the underwriters from the amounts
held in the trust account solely in the event that we complete a business combination, subject to the terms of the underwriting agreement.
In addition, we agreed to issue the underwriters 200,000 ordinary shares (or up to 230,000 ordinary shares if the over-allotment option
is exercised in full), denoted as representative shares.

22

Critical Accounting Estimates

The preparation of unaudited financial statements
and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities
at the date of the unaudited financial statements, and income and expenses during the periods reported. Actual results could materially
differ from those estimates. We have not identified any critical accounting estimates.

Recent Accounting Standards

In November 2024, the FASB issued Accounting Standards
Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic
220-40): Disaggregation of Income Statement Expenses”, requiring public entities to disclose additional information about specific
expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years
beginning after December 15, 2026, and for interim periods beginning after December 15, 202