Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 326

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 326
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 and one right to receive one-eighth (1/8) of one Ordinary Share
upon the consummation of an initial business combination. The Units were sold at an offering price of $10.00 per unit, generating gross
proceeds, before expenses, of $200,000,000. We granted the underwriters a 45-day option to purchase up to 3,000,000 additional Units to
cover over-allotments, if any. Simultaneously with the closing of the IPO, we consummated the private placement with Drugs Made In America
Acquisition LLC, our sponsor, of 400,000 Private Placement Units at a price of $10.00 per unit, for $4,000,000.

On February 13, 2025, the underwriters
exercised the over-allotment option in full, and the closing of the issuance and sale of the Over-Allotment Option Units occurred on February
18, 2025. The total aggregate issuance by us of 3,000,000 Over-Allotment Option Units at a price of $10.00 per unit resulted in total
gross proceeds of $30,000,000. On February 18, 2025, simultaneously with the sale of the Over-Allotment Option Units, we consummated the
private sale of an additional 30,000 Private Placement Units, generating gross proceeds of $300,000.

12

As of February 18, 2025, a total
of $ 231,150,000 of the net proceeds from the sale of Units in the IPO (including the Over-Allotment Option Units) and the private placement
of the Private Placement Units, were placed in a trust account established for the benefit of the Company’s public shareholders.
The funds in the trust account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in
money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government
treasury obligations and/or held as cash or cash items (including in demand deposit accounts).

For a description of the use
of the proceeds generated in our IPO and the private placement of the Private Placement Units, see Part II, Item 7 (Management’s
Discussion and Analysis of Financial Condition and Results of Operations) of this Annual Report on Form 10-K. There has been no material
change