Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 90

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 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 September 30, 2025, the Sponsor has paid $491,178 in expenses
on behalf of the Company (including $81,000 related to the administrative support agreement) affecting the share subscription
receivable on the unaudited balance sheet to $608,822. On February 18, 2025, the underwriters exercised their over-allotment option
to purchase an additional 3,000,000 Units at a purchase price of $10.00 per Unit, generating additional gross proceeds of
$30,000,000. Simultaneously with the sale of the over-allotment Units, the sponsor purchased an additional 30,000 Private Placement
Units at a purchase price of $10.00 per unit, generating additional gross proceeds of $300,000.

Following
the Initial Public Offering, the sale of the Private Placement Units and the over-allotment option close, a total of $231,150,000 was
placed in the trust account.

On
January 29, 2025, we issued a new unsecured subscription promissory note to the sponsor (the “Subscription Promissory
Note”) in connection with the amended and restated units purchase agreement pursuant to which we may borrow up to an aggregate
principal amount of $1,100,000 working capital loans. The sponsor further agrees that such loans shall be converted into Private
Placement Units, at the price of $10.00 per unit. To the extent the amount of such loans is less than $1,100,000, the sponsor
acknowledges and agrees that it (or, if applicable, it and any transferees of Private Placement Units) shall surrender for
cancellation any and all rights to up to an aggregate of 110,000 Private Placement Units at $10.00 per unit. As of September 30,
2025, there was $608,822 outstanding and reported as share subscription receivable on the unaudited balance sheet.

We
incurred $8,898,201 of transaction costs, consisting of $1,150,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees,
and $848,201 of other offering costs.

We
intend to use substantially all of the funds held in the trust account, including any amounts representing interest