Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 66

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 66
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 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. As of December
31, 2024 no expense was incurred.

F-12

Promissory Note — Related Party

On June 13, 2024, the Sponsor issued an unsecured
promissory note to the Company (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal
amount of $500,000. On November 21, 2024, the Sponsor amended the Promissory Note to increase the amount the Company may borrow to $750,000.
On December 5, 2024, the Sponsor further amended the Promissory Note to increase the amount the Company may borrow to $1,850,000. The
Promissory Note is non-interest bearing and shall be due and payable upon the closing of the Company’s initial business combination
or upon the Company’s dissolution, whichever occurs first. During the period from May 23, 2024 (inception) through December 31,
2024, the Company received funds totaling approximately $1,700,000 from various investors on behalf of the Sponsor. These monies represent
advances paid to the Sponsor for purchase of Founder Shares upon successful completion of the Proposed Public Offering. The monies were
received on behalf of the Sponsor and deposited into the Company’s bank account instead of the Sponsor’s bank account. During
the period from May 23, 2024 (inception) through December 31, 2024, the Company repaid approximately $1,200,000 of the balance due to
the Sponsor related to investments it had received on behalf of the Sponsor, resulting in a balance of approximately $500,000 due to the
Sponsor, which is accounted for as part of the promissory note amount on the balance sheet. As of December 31, 2024 there was $662,324
outstanding under the Promissory Note.

Advisory Services

The Company received advisory services from an
uncomp