Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 11

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 11
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 which we issue a substantial number of new shares
in exchange for all of the issued and outstanding capital stock, shares or other equity interests of a target business or issue a substantial
number of new shares to third-parties in connection with financing our initial business combination. In this case, we would acquire a
100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares, our shareholders
immediately prior to our initial business combination could own less than a majority of our issued and outstanding shares subsequent to
our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses are owned or
acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be valued
for purposes of the 80% of net assets test. If our initial business combination involves more than one target business, the 80% of net
assets test will be based on the aggregate value of all of the target businesses. Notwithstanding the foregoing, if we are not then listed
on Nasdaq for whatever reason, we would no longer be required to meet the foregoing 80% of net assets test.

6

We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, directors or officers. In the event we seek
to complete an initial business combination with a target that is affiliated with our sponsor, directors or officers, we, or a committee
of independent and disinterested directors, may engage independent advisors to assist with the evaluation and would obtain an opinion
from an independent investment banking firm or from an independent accounting firm that such an initial business combination is fair to
our company from a financial point of view. We are not required to obtain such an opinion in any other context.

Redemption Rights for Public Shareholders Upon
Consummation of Our Initial Business Combination

We will provide our public
shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days
prior to the consummation of the initial business combination, including interest (net of funds withdrawn to pay our taxes, if any), divided
by the number of then issued and outstanding public shares, subject to certain limitations. Our public shareholders will
be permitted to redeem their