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

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 Company
fails to complete its initial Business Combination within 15 months from the closing of the Initial Public Offering (or up to 21 months
from the closing if the Company extends the period of time to consummate a Business Combination).

The representative shares have been deemed compensation
by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of sales of the Initial
Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant to FINRA Rule 5110(e)(1), these securities will
not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the
securities by any person for a period of 180 days immediately following the commencement of sales of the Initial Public Offering, nor
may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the commencement of sales
of the Initial Public Offering except to any underwriter and selected dealer participating in the Initial Public Offering and their bona
fide officers or partners.

Subscription Receivable —
On January 29, 2025, the Company issued a new unsecured subscription promissory note to the Sponsor in connection with the amended and
restated units purchase agreement (as described in Note 5) pursuant to which the Company may borrow up to an aggregate principal amount
of $1,100,000 working capital loans. The Sponsor further agrees that such loans shall be converted into Private Units, at the price of
$10.00 per unit. To the extent the amount of such loans is less than $1,100,000, the Sponsor acknowledges and agrees that it (or, if applicable,
it and any transferees of Private Units) shall surrender for cancellation any and all rights to up to an aggregate of 110,000 Private
Units at $10.00 per unit.

NOTE 8 — FAIR VALUE MEASUREMENTS

The fair value of the Company’s financial
assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale
of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the
measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of
observable inputs (market data obtained from independent sources) and to minimize the use of unobservable