Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 49

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 per Unit) from the net
proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Units was placed in a trust account
(“Trust Account”), located in the United States and 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), as determined by the Company, until the earlier of: (i) the completion of a Business Combination; (ii) the redemption
of any Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum
and articles of association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection
with its initial business combination or to redeem 100% of the Public Shares if the Company does not complete its initial business combination
within the Combination Period (as defined below) or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial business combination activity; and (iii) the redemption of the Public Shares if the Company has not completed
an initial business combination within the Combination Period, subject to applicable law, as described below.

Transaction costs amounted to $8,898,201 consisting
of $1,150,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $848,201 of other offering costs.

The Company will provide the holders of the outstanding
Public Shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their Public Shares upon the
completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination
or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination
or conduct a tender offer will be made by the Company. The Public Shareholders will be entitled to redeem their Public Shares for a pro
rata portion of the amount then in the Trust Account (initially $10.05 per Public Share, plus any pro rata interest then in the Trust
Account, net of taxes payable). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s
rights.