Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 31

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
 in full, and the closing of the issuance and sale of the additional Units (the “Over-Allotment Option Units”) occurred
on February 18, 2025. The total aggregate issuance by us of 3,000,000 Over-Allotment Option Units at a price of $10.00 per unit resulted
in total gross proceeds of $30,000,000. On February 18, 2025, simultaneously with the sale of the Over-Allotment Option Units, we consummated
the private sale of an additional 30,000 Private Placement Units, generating gross proceeds of $300,000.

Following the closing of the IPO, a total of $
231,150,000 of the net proceeds from the sale of Units in the IPO (including the Over-Allotment Option Units) and the private placement
of the Private Placement Units, were placed in a trust account established for the benefit of the Company’s public shareholders
(the “trust account”) established by VStock Transfer, LLC, our transfer agent and maintained by Wilmington Trust, National
Association acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to us
to pay our taxes, if any, the funds held in the trust account will not be released from the trust account until the earliest to occur
of: (1) our completion of an initial business combination; (2) the redemption of any public shares properly submitted in connection with
a shareholder vote to amend our amended and restated memorandum and articles of association (A) to modify the substance or timing of our
obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not
complete our initial business combination within the completion window or (B) with respect to any other material provisions relating to
shareholders’ rights or pre-initial business combination activity; and (3) the redemption of our public shares if we have not completed
an initial business combination within the completion window, subject to applicable law. The funds in the trust account will be invested
only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under
Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations and/or held as cash or cash
items (including in demand deposit accounts).

We will have up to 15 months to consummate an