Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 34

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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, we
consummated the private placement with Drugs Made In America Acquisition LLC, our sponsor, of 400,000 units (the “Private Placement
Units”) at a price of $10.00 per unit, for $4,000,000. The Private Placement Units are identical to the Units sold in the IPO, except
that the Private Placement Units, including the underlying securities, may not, subject to certain limited exceptions, be transferable,
assignable or salable by the sponsor until the earlier of: (i) with respect to 50% of the 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, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing after our initial business combination and (ii) with
respect to the remaining 50% of the Private Placement Units, six months after the date of the consummation of our initial business combination,
or earlier, in either case, if, subsequent to our initial business combination, we consummate a liquidation, merger, share exchange or
other similar transaction which results in all of our shareholders having the right to exchange their ordinary shares for cash, securities
or other property. The sponsor was granted certain demand and piggyback registration rights in connection with the purchase of the Private
Placement Units. No underwriting discounts or commissions were paid with respect to such sale. The Private Placement Units were issued
pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities
Act”).

Subsequently, the underwriters exercised the over-allotment
option in full, and the closing of the issuance and sale of the additional Units (the “Over-Allotment Option Units”) occurred
on February 18, 2025. The total aggregate issuance by us of 3,000,000 Over-Allotment Option Units at a price of $10.00 per unit resulted
in total gross proceeds of $30,000,000. On February 18, 2025, simultaneously with the sale of the Over-Allotment Option Units, we consummated
the private sale of an additional 30,000 Private