Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 166

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 166
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under such promissory note. The promissory note is non-interest bearing and will be due and payable upon the closing of our initial business
combination or upon our dissolution, whichever occurs first. On January 29, 2025, we repaid the sponsor $900,000.

We expect to fund our working capital requirements
prior to the time of our initial business combination with loans from our sponsor under the unsecured promissory note described above.
In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate
of our sponsor or certain of our directors and officers may, but are not obligated to, loan us funds as may be required. If we complete
our initial business combination, we may repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise,
such loans may be repaid only out of funds held outside the trust account. In the event that our initial business combination does not
close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our
trust account would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into units at a price of $10.00
per unit at the option of the lender. The units would be identical to the Private Placement Units issued to our sponsor. As of December 31, 2024,
no working capital loans were outstanding.

After our initial business combination, members
of our management team who remain with us may be paid consulting, management or other fees from the combined company with any and all
amounts being fully disclosed to our shareholders, to the extent then known, in the proxy solicitation or tender offer materials, as applicable,
furnished to our shareholders. It is unlikely the amount of such compensation will be known at the time of distribution of such tender
offer materials or at the time of a general meeting held to consider our initial business combination, as applicable, as it will be up
to the directors of the post-combination business to determine executive officer and director compensation.

We have entered into a registration rights agreement
with respect to the founder shares, Private Placement Units (and underlying securities) and units (and underlying securities) issued upon conversion
of working capital loans (if any), which is described under Item 12.

On January 29, 2025, we issued a new unsecured
subscription promissory note to