Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 90

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 reflect the fact that there are resource constraints, and the benefits
must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation
of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances
of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of
future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Changes in Internal Control Over Financial
Reporting

There was no change in our internal control over
financial reporting that occurred during the fiscal quarter of 2025 covered by this Quarterly Report on Form 10-Q that has materially
affected, or is reasonably likely to materially affect, our internal control over financial reporting.

23

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

We are a smaller reporting company as defined
by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

On January 29, 2025, we consummated the Initial
Public Offering of 20,000,000 Units at $10.00 per Unit, generating proceeds of $200,000,000. Clear Street LLC acted as sole book-running
manager of the Initial Public Offering. The securities in the offering were registered under the Securities Act on registration statement
on Form S-1 (No. 333-281170). The registration statement was declared effective on January 7, 2025 and the post-effective amendment to
the registration statement was declared effective on January 27, 2025.

Simultaneous with the consummation of the Initial
Public Offering, we consummated the private placement with the sponsor of 400,000 Private Placement Units at a price of $10.00 per unit,
generating total proceeds of $4,000,000. Each Private Placement Unit consists of one ordinary share and one right to receive one-eighth
(1/8) of one ordinary share upon the consummation of an initial business combination. The proceeds from the sale of the Private Placement
Units were added to the net proceeds from the Initial Public Offering held in the trust account. The issuance was made pursuant to the
exemption from registration contained in Section 4(a)(2) of