Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 117

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 117
---
.

The registration statement for the Company’s
Initial Public Offering was declared effective on January 7, 2025 and the post-effective amendment to the registration statement was declared
effective on January 27, 2025. On January 29, 2025, the Company consummated the Initial Public Offering of 20,000,000 units (the “Units”
and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”) at $10.00 per Unit, generating
proceeds of $200,000,000, which is described in Note 3. 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, which
is described in Note 3.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 400,000 units (the “Private Placement Units”) at a price of $10.00 per
Private Placement Unit in a private placement to Drugs Made In America Acquisition LLC (the “Sponsor”), for $4,000,000, of
which $1,100,000 has not yet been received and is noted as a subscription receivable, including such amounts, $1,100,000, which may be
converted from the amounts advanced to the Company under the Subscription Promissory Note as described in Note 9. Simultaneously with
the sale of the over-allotment option Units on February 18, 2025, 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.

Transaction costs amounted to $8,898,201 consisting
of $1,150,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $848,201 of other offering costs.

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Units, although
substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance
that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business
Com