Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 18

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 10,287,413 Founder Shares outstanding.

The Sponsor has entered into a letter agreement
with the Company pursuant to which, with certain limited exceptions, the Founder Shares and the Private Placement Units, including the
underlying securities, are not transferable, assignable or salable (except to directors and officers and other persons or entities affiliated
with the Company’s initial shareholders, each of whom will be subject to the same transfer restrictions) until the earlier of: (i)
with respect to 50% of the Founder Shares and the Private Placement Units, the earlier of six months after the date of the consummation
of the initial Business Combination and the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.50
per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing after the initial Business Combination and (ii) with respect to the remaining 50% of
the Founder Shares and the Private Placement Units, six months after the date of the consummation of the initial Business Combination,
or earlier, in either case, if, subsequent to the initial Business Combination, the Company consummates a liquidation, merger, share exchange
or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities
or other property.

Administrative Support Agreement

The Company has entered into an administrative
services agreement, effective on January 7, 2025, pursuant to which the Company has agreed to pay the Sponsor or an affiliate $10,000
for office space, and administrative and support services. Upon completion of the initial Business Combination or the Company’s
liquidation, the administrative services agreement will terminate, and the Company will cease paying these monthly fees. For the three
months ended March 31, 2025, the Company incurred $21,000 in administrative support fees and included in general and administrative costs
on the unaudited statement of operations. As of March 31, 2025, $1,000 is included in accounts payable and accrued expenses in the accompanying
unaudited balance sheets and $20,000 was netting in share subscription receivable on the unaudited balance sheet.

12

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited