Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 22

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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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. Each Private Placement Unit consists of one ordinary share and
one right to receive one-eighth (1/8) of one ordinary share upon the consummation of an initial business combination. The proceeds
from the sale of the Private Placement Units are added to the net proceeds from the Initial Public Offering held in the Trust
Account. 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. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the
Private Placement Units held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the
requirements of applicable law).

NOTE
5 — RELATED PARTIES

Founder
Shares

On
June 17, 2024, the Company issued to the Sponsor an aggregate of 22,361,111 ordinary shares, par value $0.0001 per share, in exchange
for $35,000 or approximately $0.0016 per share. On November 6, 2024, the Sponsor surrendered and forfeited 12,503,968 ordinary shares
to the Company for no consideration, following which the Sponsor held 9,857,143 ordinary shares (the “Founder Shares”). All
share and per share data has been retrospectively presented. The Founder Shares included an aggregate of up to 1,285,714 shares subject
to surrender and forfeiture to the extent that the underwriters’ over-allotment was not exercised in full or in part, so that the
number of Founder Shares will equal, on an as-converted basis, approximately 30% of the Company’s issued and outstanding ordinary
shares after the Initial Public Offering (not including the Private Placement Units and the representative shares and assuming the Sponsor
does not purchase any Public Shares in the Initial Public Offering). On January 29, 2025 the Company completed its Initial Public Offering
and the over-all