Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 135

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 135
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 Note, which loans shall be converted into Private Placement Units, at the price of $10.00 per
unit. To the extent the amount of such loans is less than $1,100,000, the Sponsor agreed that it (or, if applicable, it and any transferees
of Private Placement Units) shall surrender for cancellation any and all rights to up to an aggregate of 110,000 Private Placement Units
at $10.00 per unit (see Note 4 and Note 5).

On January 29, 2025, the Company consummated the
Initial Public Offering of 20,000,000 Units at $10.00 per Unit, generating proceeds of $200,000,000, which is described in Note 1 and
Note 3.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 400,000 Private Placement Units at a price of $10.00 per Private Placement Unit in
a private placement to the Sponsor, for $4,000,000, of which $1,100,000 has not yet been received and which may be converted from the
amounts advanced to the Company under the Subscription Promissory Note as described above.

On January 29, 2025 and February 18, 2025, the
Company issued to Clear Street LLC, the representative of the underwriters in the Initial Public Offering, an aggregate of 230,000 ordinary
shares (the “representative shares”), which is describe in Note 7.

On February 18, 2025, the underwriters exercised
their 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
option, the Sponsor purchased an additional 30,000 Private Placement Units at a purchase price of $10.00 per Private Placement Unit, generating
additional gross proceeds of $300,000. As a result of the underwriters’ election to exercise their overallotment option, 1,285,714
Founder Shares are no longer subject to forfeiture.

Following the closing of the Initial Public Offering on January 29,
2025 and the over-allotment close on February 18, 2025, an amount of $231,150,000 ($10.05 per Unit) from the net proceeds of the sale