Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 83

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 83
---
, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or other similar business combination with one or more businesses. We intend to effectuate
our initial business combination using cash derived from the proceeds of the Initial Public Offering and the sale of the Private Placement
Units, our shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant
costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete an initial business combination will be
successful.

Results of Operations

We have neither engaged in any operations
nor generated any operating revenues to date. Our only activities from inception through December 31, 2024 were organizational activities
and those necessary to prepare for the Initial Public Offering, described below. We do not expect to generate any operating revenues until
after the completion of our initial business combination. We expect to generate non-operating income in the form of interest income on
marketable securities held after the Initial Public Offering. We expect that we will incur increased expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with
searching for, and completing, a business combination.

For the period from May 23, 2024 (inception) through
December 31, 2024, we had a net loss of $279,845, which consisted of general and administrative costs.

13

Liquidity and Capital Resources

As of December 31, 2024, we had cash of $1,351.
Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of ordinary shares by the
sponsor and loans from our sponsor.

On January 29, 2025, we consummated
the Initial Public Offering of 20,000,000 Units, at a price of $10.00 per unit, generating gross proceeds of $200,000,000. Simultaneously
with the closing of the Initial Public Offering, we consummated the sale of 400,000 Private Placement Units to the sponsor at a price
of $10.00 per unit for $4,000,000, of which $1,100,000 has not yet been received and is noted as a subscription receivable, which may
be converted from the amounts advanced to the Company under the Subscription Promissory Note as described below. On February 18, 2025