Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 76

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 TO FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Representative Shares — The
Company issued to Clear Street LLC, the representative of the underwriters in the Initial Public Offering, 200,000 ordinary shares (the
“representative shares”) at the time of the consummation of Initial Public Offering and 30,000 representative shares at the
closing of the over-allotment option. The holders of the representative shares have agreed (i) that they will not transfer, assign or
sell any such shares without our prior consent until the completion of the initial Business Combination, (ii) to waive their redemption
rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of the initial Business
Combination and (iii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the 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
$