Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 21

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 21
---
  
    $(0.02)

Recent
Accounting Standards 

In
November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive
Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, requiring public entities
to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual
basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December
15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03. 

Management
does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material
effect on the Company’s financial statement.

11

DRUGS
MADE IN AMERICA ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

NOTE
3 — INITIAL PUBLIC OFFERING

Pursuant
to the Initial Public Offering consummated on January 29, 2025, the Company sold 20,000,000 Units at a price of $10.00 per Unit. Each
Unit consists of one ordinary share and one right (“Public Right”), with each Public Right entitling the holder to receive
one-eighth (1/8) of one ordinary share upon the consummation of an initial business combination. In connection with the Initial Public
Offering, the underwriters were granted a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments, if any.
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.

NOTE
4 — PRIVATE PLACEMENT

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 was not received and