Company: DMAAR
Filing Date: 2025-01-14
Form Type: POS AM
Source: 0001213900-25-003137
Chunk: 190

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-01-14
Form: POS AM
Chunk 190
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 stockholders to, among other things, extend the time period it had to consummate an initial business combination until September7, 2023. In connection with such extension, 21,151,393 public shares, representing approximately 88.1% of the public shares, were tendered for redemption. On April3, 2023, IAC entered into a definitive agreement for an initial business combination with Avila Energy Corporation (the “Avila BCA”). On August10, 2023, the parties agreed to mutually terminate the Avila BCA. On September6, 2023, IAC held an annual meeting of stockholders, at which its stockholders approved to extend the time period it had to consummate an initial business combination until June7, 2024. In connection with such extension, 1,847,662 public shares were tendered for redemption. On October13, 2023, IAC entered into a definitive agreement for an initial business combination with Alpha Modus, Corp., and the parties are still seeking to consummate such transaction. On April21, 2024, IAC engaged Glenn Worman, our Chief Financial Officer, to serve as its Chief Financial Officer. On June5, 2024, IAC held a special meeting of stockholders to extend the time it has to consummate an initial business combination until December7, 2024. In connection with such extension, 481,865 public shares were tendered for redemption. 120 Other than as set forth above, none of our sponsor, officers or directors has had any experience in organizing and managing special purpose acquisition companies. NUMBER, TERMS OF OFFICE AND APPOINTMENT OF DIRECTORS AND OFFICERS Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect that our board of directors will consist of four members. Approval of our entry into an initial business combination agreement will require the affirmative vote of a majority of our board directors, which must include a majority of our independent directors. Subject to any other special rights applicable to the shareholders, prior to our initial business combination, any vacancies on our board of directors may be filled by the affirmative vote of a majority of the directors present and voting at the meeting of our board of directors. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum