Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 68

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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470-20. The Company recognizes
changes in redemption value immediately as it occurs and will adjust the carrying value of redeemable shares to equal the redemption
value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the
accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges
against additional paid-in capital and accumulated deficit. Accordingly, as of September 30, 2025, ordinary shares subject to possible
redemption is presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s
unaudited balance sheets. Increases or decreases in the carrying amount of redeemable shares are affected by charges against additional
paid-in capital and accumulated deficit.

As
of December 31, 2024, there were no shares subject to possible redemption. As of September 30, 2025, the ordinary shares subject to possible
redemption reflected in the unaudited balance sheets are reconciled in the following table:

    Shares  
    Amount 
  
    Gross
    proceeds 
     20,000,000  
    $200,000,000 
  
    Less: 

    Proceeds
    allocated to Public Rights 
        
     (2,978,000)
  
    Proceeds
    allocated to over-allotment option 
        
     (305,179)
  
    Ordinary
    share issuance cost 
        
     (7,703,027)
  
    Plus: 

    Remeasurement
    of carrying value to redemption value 
        
     11,986,206 
  
    Ordinary
    shares subject to possible redemption, January 29, 2025 
     20,000,000  
    $201,000,000 
  
    Gross
    proceeds from exercise of over-allotment option 
     3,000,000  
     30,000,000 
  
    Less: 

    Proceeds
    allocated to Public Rights from exercise of over-allotment option 
        
     (446,700)
  
    Ordinary
    share issuance cost from exercise of over-allotment option 
        
     (1,047,367)
  
    Plus: 

    Exercise of over-allotment
    option 
        
     305,179 
  
    R