Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 39

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 the trust account of $6,454,232, offset by general and administrative costs of $726,547.

For
the period from May 23, 2024 (inception) through September 30, 2024, we had a net loss of $199,859, which consists of general and administrative
costs.

Liquidity
and Capital Resources

As
of September 30, 2025, we had cash of $717. 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 was not received and included as
share subscription receivable. Since the Initial Public Offering until September 30, 2025, the Sponsor has paid $491,178 in expenses
on behalf of the Company (including $81,000 related to the administrative support agreement) affecting the share subscription
receivable on the unaudited balance sheet to $608,822. On February 18, 2025, the underwriters exercised their over-allotment option
to purchase an additional 3,000,000 Units at a purchase price of $10.00 per Unit, generating additional gross proceeds of
$30,000,000. Simultaneously with the sale of the over-allotment Units, the sponsor purchased an additional 30,000 Private Placement
Units at a purchase price of $10.00 per unit, generating additional gross proceeds of $300,000.

Following
the Initial Public Offering, the sale of the Private Placement Units and the over-allotment option close, a total of $231,150,000 was
placed in the trust account.

On
January 29, 2025, we issued a new unsecured subscription promissory note to the sponsor (the “Subscription Promissory
Note”) in connection with the amended and restated units purchase agreement pursuant to which we may borrow up to an aggregate