Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 42

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 of the initial business combination or our liquidation, the administrative services agreement will terminate, and we
will cease paying these monthly fees.

The
underwriters were entitled to a cash underwriting discount of $0.05 per Unit, or 0.5% of the gross proceeds of the Initial Public Offering,
or $1,150,000 in the aggregate, paid at the closing of the Initial Public Offering and the over-allotment option closing. In addition,
the underwriters are entitled to a deferred fee of $0.30 per Unit, or 3.0% of the gross proceeds of the Initial Public Offering, or $6,900,000
in the aggregate, of which 25.0% will be adjusted net of redemptions (i.e., for purposes of calculating the deferred underwriting commission
net of redemptions, 25.0% of the deferred underwriting commissions will determined by the dollar amount that is product of (i) 3.0% multiplied
by the product of the number of unredeemed public shares, multiplied by $10.00 and (ii) 25.0%). The deferred fee becomes payable to the
underwriters from the amounts held in the trust account solely in the event that we complete a business combination, subject to the terms
of the underwriting agreement. In addition, we agreed to issue the underwriters 200,000 ordinary shares (or up to 230,000 ordinary shares
if the over-allotment option is exercised in full), denoted as representative shares.

22

Critical
Accounting Estimates

The
preparation of unaudited financial statements and related disclosures in conformity with accounting principles generally accepted in
the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities,
disclosure of contingent assets and liabilities at the date of the unaudited financial statements, and income and expenses during the
periods reported. Actual results could materially differ from those estimates. We have not identified any critical accounting estimates.

Recent
Accounting Standards

In
November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive
Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, requiring public entities
to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual
basis. ASU 2024