Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 73

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 in the pharmaceutical industry. The Company
is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and
emerging growth companies.

The registration statement for the Company’s
initial public offering (the “IPO” or “Initial Public Offering”) was declared effective on January 27, 2025. On
January 29, 2025, we consummated our Initial Public Offering of 20,000,000 units (the “Units”). Each Unit consists of one
ordinary share, $0.0001 par value (“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.

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Simultaneously with the closing of the IPO, we
consummated the private placement with Drugs Made In America Acquisition LLC, our sponsor, of 400,000 units (the “Private Placement
Units”) at a price of $10.00 per unit, for $4,000,000. The Private Placement Units are identical to the Units sold in the IPO, except
that the Private Placement Units, including the underlying securities, may not, subject to certain limited exceptions, be transferable,
assignable or salable by the sponsor until the earlier of: (i) with respect to 50% of the Private Placement Units, the earlier of six
months after the date of the consummation of our initial business combination and the date on which the closing price of our 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 our initial business combination and (ii) with
respect to the remaining 50% of the Private Placement Units, six months after the date of the consummation of our initial business combination,
or earlier, in either case, if, subsequent to our initial business combination, we consummate a liquidation, merger, share exchange or
other similar transaction which results in all of our shareholders having the right