Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 69

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 Offering (not including
the Private Placement Units and the representative shares and assuming the Sponsor does not purchase any Public Shares in the Initial
Public Offering). On January 29, 2025 the Company completed its Initial Public Offering and the over-allotment option remained unexercised.
Subsequently, on February 18, 2025, the underwriters exercised their over-allotment option to purchase an additional 3,000,000 Units.
As such, 1,285,714 shares are no longer subject to forfeiture.

The Sponsor has entered into a letter agreement
with the Company pursuant to which, with certain limited exceptions, the Founder Shares and the Private Placement Units, including the
underlying securities, are not transferable, assignable or salable (except to directors and officers and other persons or entities affiliated
with the Company’s initial shareholders, each of whom will be subject to the same transfer restrictions) until the earlier of: (i)
with respect to 50% of the Founder Shares and the Private Placement Units, the earlier of six months after the date of the consummation
of the initial Business Combination and the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.50
per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing after the initial Business Combination and (ii) with respect to the remaining 50% of
the Founder Shares and the Private Placement Units, six months after the date of the consummation of the initial Business Combination,
or earlier, in either case, if, subsequent to the initial Business Combination, the Company consummates a liquidation, merger, share exchange
or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities
or other property.

Administrative Support Agreement

The Company has entered into an administrative
services agreement, effective on January 7, 2025, pursuant to which the Company has agreed to pay the Sponsor or an affiliate $10,000
for office space, and administrative and support services. Upon completion of the initial Business Combination or the Company’s
liquidation, the administrative services agreement will terminate, and the Company will cease paying these monthly fees. For the three
and six months ended June 30, 2025, the Company incurred $30,000 and $51,000 in administrative support fees