Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 17

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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     30,000,000 
  
    Less: 

    Proceeds allocated to Public Rights from exercise of over-allotment option 
        
     (446,700)
  
    Ordinary share issuance cost from exercise of over-allotment option 
        
     (1,047,367)
  
    Plus: 

    Exercise of over-allotment option 
        
     305,179 
  
    Remeasurement of carrying value to redemption value 
        
     2,924,356 
  
    Ordinary shares subject to possible redemption, March 31, 2025 
     23,000,000  
    $232,735,468 
  
    Plus: 

    Remeasurement of carrying value to redemption value 
        
     2,420,498 
  
    Ordinary shares subject to possible redemption, June 30, 2025 
     23,000,000  
    $235,155,966 

Derivative Financial Instruments

The Company evaluates its financial
instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with
ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities,
the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with
changes in the fair value reported in the statement of operations. The classification of derivative instruments, including whether such
instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are
classified in the unaudited balance sheets as current or non-current based on whether or not net cash settlement or conversion of the
instrument could be required within 12 months of the unaudited balance sheets date. The underwriters’ over-allotment option
is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and was accounted for as a liability
pursuant to ASC 480 since it was not exercised at the time of the Initial Public Offering.

10

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Net Income (Loss) Per Ordinary
Share

The Company complies with accounting and disclosure
requirements of FASB ASC Topic 260,