Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 7

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 post-effective amendment to the registration statement was declared
effective on January 27, 2025. On January 29, 2025, the Company consummated the Initial Public Offering of 20,000,000 units (the “Units”
and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”) at $10.00 per Unit, generating
proceeds of $200,000,000, which is described in Note 3. 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, which
is described in Note 3.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 400,000 units (the “Private Placement Units”) at a price of $10.00 per
Private Placement Unit in a private placement to Drugs Made In America Acquisition LLC (the “Sponsor”), for $4,000,000, of
which $1,100,000 was not received and included as share subscription receivable. Since the Initial Public Offering until June 30, 2025,
the Sponsor has paid $404,175 in expenses on behalf of the Company (including $50,000 related to the administrative support agreement)
affecting the share subscription receivable on the unaudited balance sheet to $695,825. Simultaneously with the sale of the over-allotment
option Units on February 18, 2025, the Sponsor purchased an additional 30,000 Private Placement Units at a purchase price of $10.00 per
Private Placement Unit, generating additional gross proceeds of $300,000.

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Units, although
substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance
that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business
Combinations with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in
the Trust Account (as defined below) (excluding any deferred underwriting fees and taxes payable on the interest