Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 58

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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DRUGS
MADE IN AMERICA ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

NOTE
1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Drugs
Made In America Acquisition Corp. (the “Company”) is a blank check company newly incorporated in the Cayman Islands on May 23,
2024. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization,
reorganization or other similar business combination with one or more businesses (the “Business Combination”).

Although
the Company may acquire a business in any industry, it intends to focus on companies 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.

As
of September 30, 2025, the Company had not commenced any operations. All activity for the period from May 23, 2024 (inception) through
September 30, 2025 relates to the Company’s formation, the initial public offering (“Initial Public Offering”), which
is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company
will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company
will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.

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.

Sim