Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 102

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 102
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 registration rights agreement requiring us
to register such securities for resale. The holders of these securities will be entitled to make up to three demands, excluding
short form registration demands, that we register such securities. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed subsequent to our completion of our initial business combination
and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the
registration rights agreement provides that we will not be required to effect or permit any registration or cause any registration
statement to become effective until termination of the applicable lock-up period. We will bear the expenses incurred in connection
with the filing of any such registration statements.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE.

On June 17, 2024, we issued to our sponsor an
aggregate of 22,361,111 ordinary shares for an aggregate purchase price of $35,000, or approximately $0.0016 per share. On November 6,
2024, the sponsor surrendered and forfeited 12,503,968 ordinary shares to us for no consideration, following which the sponsor holds 9,857,143
founder shares.

Our sponsor purchased
an aggregate of 430,000 Private Placement Units, each Private Placement Unit consisting of one ordinary share and one right to
receive one-eighth (1/8) of an ordinary share upon the consummation of an initial business combination, at a price of $10.00 per
unit (or $4,300,000 in the aggregate) in a private placement that closed simultaneously with the closing of the IPO. The Private
Placement Units are identical to the Units sold in the IPO, subject to certain limited exceptions.

The founder shares and the Private Placement Units, including the underlying
private shares and private rights, are subject to transfer restrictions pursuant to lock-up provisions in the letter agreement with us
entered into by our initial shareholders. Those lock-up provisions provide that such securities are not transferable or salable until
the earlier of: (i) with respect to 50% of the founder shares and Private Placement Units, the earlier of six months after the date of
the consummation of our initial business combination and the date on which the closing price of our ordinary shares equals or exceeds
$12.50 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recap