Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 8

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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, at the earliest. The Company
will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.

The
registration statement for the Company’s Initial Public Offering was declared effective on January 7, 2025 and the post-effective
amendment to the registration statement was declared effective on January 27, 2025. On January 29, 2025, the Company consummated the
Initial Public Offering of 20,000,000 units (the “Units” and, with respect to the ordinary shares included in the Units being
offered, the “Public Shares”) at $10.00 per Unit, generating proceeds of $200,000,000, which is described in Note 3. On February
18, 2025, the underwriters exercised their over-allotment option to purchase an additional 3,000,000 Units at a purchase price of $10.00
per Unit, generating additional gross proceeds of $30,000,000, which is described in Note 3.

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 400,000 units (the “Private Placement Units”)
at a price of $10.00 per Private Placement Unit in a private placement to Drugs Made In America Acquisition LLC (the “Sponsor”),
for $4,000,000, of which $1,100,000 was not received and included as share subscription receivable. Since the Initial Public Offering
until September 30, 2025, the Sponsor has paid $491,178 in expenses on behalf of the Company (including $81,000 related to
the administrative support agreement) affecting the share subscription receivable on the unaudited balance sheet to $608,822.
Simultaneously with the sale of the over-allotment option Units on February 18, 2025, the Sponsor purchased an additional 30,000 Private
Placement Units at a purchase price of $10.00 per Private Placement Unit, generating additional gross proceeds of $300,000.

The
Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering
and the sale of Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating
a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company
must complete one or more initial