Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 1

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 1
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 respect to 50% of the Private Placement Units, the
earlier of six months after the date of the consummation of our initial business combination and the date on which the closing price of
our 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 our initial business combination and (ii) with
respect to the remaining 50% of the Private Placement Units, six months after the date of the consummation of our initial business combination,
or earlier, in either case, if, subsequent to our initial business combination, we consummate a liquidation, merger, share exchange or
other similar transaction which results in all of our shareholders having the right to exchange their ordinary shares for cash, securities
or other property. The sponsor was granted certain demand and piggyback registration rights in connection with the purchase of the Private
Placement Units. No underwriting discounts or commissions were paid with respect to such sale. The Private Placement Units were issued
pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities
Act”).

On February 13, 2025, the
underwriters exercised the over-allotment option in full, and the closing of the issuance and sale of the additional Units (the “Over-Allotment
Option Units”) occurred on February 18, 2025. The total aggregate issuance by us of 3,000,000 Over-Allotment Option Units at a price
of $10.00 per unit resulted in total gross proceeds of $30,000,000. On February 18, 2025, simultaneously with the sale of the Over-Allotment
Option Units, we consummated the private sale of an additional 30,000 Private Placement Units, generating gross proceeds of $300,000.

In connection with the consummation
of IPO and exercise of the over-allotment option, we issued to Clear Street LLC, the representative of the underwriters in the IPO, an
aggregate of 230,000 ordinary shares.

We will have up to 15 months
to consummate an initial business combination from the closing of the IPO (which may be extended without shareholder approval up to two
times, each by an additional three months (