Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 316

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 316
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 or outstanding.

Ordinary Shares — The
Company is authorized to issue 220,000,000 ordinary shares with a par value of $0.0001 per share. Holders of ordinary shares are entitled
to one vote for each share. As of December 31, 2024, there are 9,857,143 ordinary shares issued and outstanding, of which an aggregate
of up to 1,285,714 ordinary shares are subject to surrender and forfeiture to the extent that the underwriters’ over-allotment option
is not exercised in full or in part so that the number of Founder Shares will equal 30% of the Company’s issued and outstanding
ordinary shares after the Initial Public Offering (not including the Private Placement Units and the representative shares and assuming
Sponsor does not purchase any Public Shares in the Initial Public Offering). On February 18, 2025 the underwriters exercised their option
to close on the full over-allotment option of 3,000,000 Units. As such 1,285,714 ordinary shares are no longer subject to forfeiture.

F-14

Rights — Except
in cases where the Company is not the surviving company in a business combination, each holder of a right will automatically receive one-eighth
(1/8) of one ordinary share upon consummation of the initial Business Combination. The Company will not issue fractional shares in connection
with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of Cayman law. In the event the Company is not the surviving company upon completion of the initial business
combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-eighth
(1/8) of one ordinary share underlying each right upon consummation of the Business Combination. If the Company is unable to complete
the initial Business Combination within the required time period and the Company will redeem the public shares for the funds held in the
Trust Account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.

Representative Shares — The
Company issued to Clear Street LLC, the representative of the underwriters in the Initial Public Offering, 230,000 ordinary shares (the
“representative shares”) at the time of the consummation of Initial Public Offering and exercise of the over-allotment option.
The holders of