Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 407

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 407
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 agree to cancel
such securities. Although no such transfers or cancellations are contemplated, we could agree to permit such transfer or cancellation
to facilitate the closing of a business combination. Any permitted transferees would be subject to the same restrictions and other agreements
of our initial shareholders with respect to any founder shares. However, if after a business combination there is a transaction whereby
all the outstanding shares are exchanged or redeemed for cash (as would be the case in a post-asset sale liquidation) or another issuer’s
shares then the founder shares and the Private Placement Units (or any ordinary shares underlying thereunder) shall be permitted to participate.

23

Registration Rights

The holders of the
founder shares, Private Placement Units (and underlying securities) and any units (and underlying securities) that may be issued on
conversion of working capital loans will be entitled to registration rights pursuant to a registration rights agreement requiring us
to register such securities for resale. The holders of these securities will be entitled to make up to three demands, excluding
short form registration demands, that we register such securities. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed subsequent to our completion of our initial business combination
and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the
registration rights agreement provides that we will not be required to effect or permit any registration or cause any registration
statement to become effective until termination of the applicable lock-up period. We will bear the expenses incurred in connection
with the filing of any such registration statements.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE.

On June 17, 2024, we issued to our sponsor an
aggregate of 22,361,111 ordinary shares for an aggregate purchase price of $35,000, or approximately $0.0016 per share. On November 6,
2024, the sponsor surrendered and forfeited 12,503,968 ordinary shares to us for no consideration, following which the sponsor holds 9,857,143
founder shares.

Our sponsor purchased
an aggregate of 430,000 Private Placement Units, each Private Placement Unit consisting of one ordinary share and one right to
receive one-eighth (1/8) of an ordinary share upon the consummation of an initial business combination, at a price of $10.00 per
unit (or $4