Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 61

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 will be no redemption rights upon the completion
of a Business Combination with respect to the Company’s rights. The Public Shares subject to redemption were recorded at a redemption
value and classified as temporary equity upon the completion of the Initial Public Offering in accordance with the Financial Accounting
Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities
from Equity.”

Notwithstanding
the foregoing, if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the
tender offer rules, the Company’s amended and restated memorandum and articles of association provide that a Public Shareholder,
together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group”
(as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)),
will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the Public Shares, without the prior consent
of the Company.

The
initial shareholders and the Company’s officers and directors have entered into a letter agreement, pursuant to which they have
agreed to (i) waive their redemption rights with respect to any founder shares, private shares and public shares held by them in
connection with the completion of the initial Business Combination, (ii) waive their redemption rights with respect to any founder
shares, private shares and public shares held by them in connection with a shareholders’ vote to amend the amended and restated
memorandum and articles of association (A) to modify the substance or timing of the obligation to allow redemption in connection
with the initial Business Combination or to redeem 100% of the public shares if the Company does not complete the initial Business Combination
within the Combination Period (as defined below) or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial business combination activity; and (iii) waive their rights to liquidating distributions from the trust account
with respect to any founder shares and private shares they hold if the Company fails to complete the initial Business Combination within
the Combination Period (although they will be entitled to liquidating distributions from the Trust Account with respect to any public
shares they hold if the Company fails to complete the initial Business Combination within the Combination Period). If the Company submits
the initial Business Combination to the public shareholders for a vote, the initial