Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 1001

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 11
Chunk 1001
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 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE.

On June 17, 2024, we issued to our sponsor an
aggregate of 22,361,111 ordinary shares for an aggregate purchase price of $35,000, or approximately $0.0016 per share. On November 6,
2024, the sponsor surrendered and forfeited 12,503,968 ordinary shares to us for no consideration, following which the sponsor holds 9,857,143
founder shares.

Our sponsor purchased
an aggregate of 430,000 Private Placement Units, each Private Placement Unit consisting of one ordinary share and one right to
receive one-eighth (1/8) of an ordinary share upon the consummation of an initial business combination, at a price of $10.00 per
unit (or $4,300,000 in the aggregate) in a private placement that closed simultaneously with the closing of the IPO. The Private
Placement Units are identical to the Units sold in the IPO, subject to certain limited exceptions.

The founder shares and the Private Placement Units, including the underlying
private shares and private rights, are subject to transfer restrictions pursuant to lock-up provisions in the letter agreement with us
entered into by our initial shareholders. Those lock-up provisions provide that such securities are not transferable or salable until
the earlier of: (i) with respect to 50% of the founder shares and Private Placement Units, the earlier of six months after the date of
the consummation of our initial business combination and the date on which the closing price of our ordinary shares equals or exceeds
$12.50 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any
20 trading days within any 30-trading day period commencing after our initial business combination and (ii) with respect to the remaining
50% of the founder shares and Private Placement Units, six months after the date of the consummation of our initial business combination,
or earlier, in either case, if, subsequent to our initial business combination, we consummate a liquidation, merger, share exchange or
other similar transaction which results in all of our shareholders having the right to exchange their ordinary shares for cash, securities
or other property.

We have entered into agreements with our officers
and directors to provide contractual indemnification in addition to the indemnification provided for in our amended and rest