Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 76

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 held by them in connection with the completion of our initial business combination.

If a shareholder vote on our initial business
combination is not required by law and we do not decide to hold a shareholder vote for business or other legal reasons, we will offer
to redeem our public shares pursuant to Rule 13e-4 and Regulation 14E under the Exchange Act, and will file tender offer documents with
the SEC prior to completing our initial business combination which contain substantially the same financial and other information about
our initial business combination and the redemption rights as is required under Regulation 14A under the Exchange Act.

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from May 23, 2024 (inception) through March 31, 2025 were organizational activities,
those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for an initial business
combination. We do not expect to generate any operating revenues until after the completion of our initial business combination. We generate
non-operating income in the form of interest earned on cash and investments held in the trust account. We incur expenses as a result of
being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended March 31, 2025, we
had a net income of $1,254,543, which consists of interest earned on cash and investments held in the trust account of $1,585,468, offset
by general and administrative costs of $330,925.

Liquidity and Capital Resources

As of March 31, 2025, we had cash of $923. Until
the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of ordinary shares by the sponsor
and loans from our sponsor.

On January 29, 2025, we consummated the Initial
Public Offering of 20,000,000 Units, at a price of $10.00 per unit, generating gross proceeds of $200,000,000. Simultaneously with the
closing of the Initial Public Offering, we consummated the sale of 400,000 Private Placement Units to the sponsor at a price of $10.00
per unit for $4,000,000, of which $1,100,000 was not received and included as share subscription receivable. Since the Initial Public
Offering until