Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 23

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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otment option remained unexercised. Subsequently, on February 18, 2025, the underwriters exercised their over-allotment
option to purchase an additional 3,000,000 Units. As such, 1,285,714 shares are no longer subject to forfeiture.

The
Sponsor has entered into a letter agreement with the Company pursuant to which, with certain limited exceptions, the Founder Shares and
the Private Placement Units, including the underlying securities, are not transferable, assignable or salable (except to directors and
officers and other persons or entities affiliated with the Company’s initial shareholders, each of whom will be subject to the
same transfer restrictions) until the earlier of: (i) with respect to 50% of the Founder Shares and the Private Placement Units, the
earlier of six months after the date of the consummation of the initial Business Combination and the date on which the closing price
of the Company’s 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 the initial
Business Combination and (ii) with respect to the remaining 50% of the Founder Shares and the Private Placement Units, six months after
the date of the consummation of the initial Business Combination, or earlier, in either case, if, subsequent to the initial Business
Combination, the Company consummates a liquidation, merger, share exchange or other similar transaction which results in all of the shareholders
having the right to exchange their ordinary shares for cash, securities or other property.

Administrative
Support Agreement

The
Company has entered into an administrative services agreement, effective on January 7, 2025, pursuant to which the Company has agreed
to pay the Sponsor or an affiliate $10,000 for office space, and administrative and support services. Upon completion of the initial
Business Combination or the Company’s liquidation, the administrative services agreement will terminate, and the Company will cease
paying these monthly fees. For the three and nine months ended September 30, 2025, the Company incurred $30,000 and $81,000 in administrative
support fees and included in general and administrative costs on the unaudited statements of operations. As of September 30, 2025, $81,000
was recorded as a reduction in share subscription receivable