Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 143

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 143
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 cash dividends prior to the completion of our initial business combination. The payment of cash
dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition
subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination
will be within the discretion of our board of directors at such time. In addition, our board of directors is not currently contemplating
and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness in connection with
our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.

Securities Authorized for Issuance Under
Equity Compensation Plans

None.

Recent Sales of Unregistered Securities; Use
of Proceeds from Registered Securities

Unregistered Sales

None.

Use of Proceeds

On January 29, 2025, we consummated
our IPO of 20,000,000 Units. Each Unit consists of one ordinary share and one right to receive one-eighth (1/8) of one Ordinary Share
upon the consummation of an initial business combination. The Units were sold at an offering price of $10.00 per unit, generating gross
proceeds, before expenses, of $200,000,000. We granted the underwriters a 45-day option to purchase up to 3,000,000 additional Units to
cover over-allotments, if any. Simultaneously with the closing of the IPO, we consummated the private placement with Drugs Made In America
Acquisition LLC, our sponsor, of 400,000 Private Placement Units at a price of $10.00 per unit, for $4,000,000.

On February 13, 2025, the underwriters
exercised the over-allotment option in full, and the closing of the issuance and sale of the Over-Allotment Option Units occurred on February
18, 2025. The total aggregate issuance by us of 3,000,000 Over-Allotment Option Units at a price of $10.00 per unit resulted in total
gross proceeds of $30,000,000. On February 18, 2025, simultaneously with the sale of the Over-Allotment Option Units, we consummated the
private sale of an additional 30,000 Private Placement Units, generating gross