Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 16

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 a shareholder
vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company
classifies Public ordinary shares subject to redemption outside of permanent equity as the redemption provisions are not solely within
the control of the Company. The Public Shares sold as part of the Units in the Initial Public Offering were issued with other freestanding
instruments (i.e., Public Rights (as defined below)) and as such, the initial carrying value of Public Shares classified as temporary
equity are the allocated proceeds determined in accordance with ASC 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 June 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 June 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