Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 47

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Drugs Made In America Acquisition Corp. (the “Company”)
is a blank check company newly incorporated in the Cayman Islands on May 23, 2024. The Company was incorporated for the purpose of
effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination
with one or more businesses (the “Business Combination”).

Although the Company may acquire a business in
any industry, it intends to focus on companies in the pharmaceutical industry. The Company is an early stage and emerging growth company
and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of March 31, 2025, the Company had not commenced
any operations. All activity for the period from May 23, 2024 (inception) through March 31, 2025 relates to the Company’s formation,
the initial public offering (“Initial Public Offering”), which is described below, and subsequent to the Initial Public Offering,
identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion
of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from
the proceeds derived from the Initial Public Offering.

The registration statement for the Company’s
Initial Public Offering was declared effective on January 7, 2025 and the 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