Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 84

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 84
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,
the underwriters exercised their over-allotment option to purchase an additional 3,000,000 Units at a purchase price of $10.00 per Unit,
generating additional gross proceeds of $30,000,000. Simultaneously with the sale of the over-allotment Units, the sponsor purchased an
additional 30,000 Private Placement Units at a purchase price of $10.00 per unit, generating additional gross proceeds of $300,000.

Following the Initial Public Offering,
the sale of the Private Placement Units and the over-allotment option close, a total of $231,150,000 was placed in the trust account.

On January 29, 2025, we issued
a new unsecured subscription promissory note to the sponsor (the “Subscription Promissory Note”) in connection with the amended
and restated units purchase agreement pursuant to which we may borrow up to an aggregate principal amount of $1,100,000 working capital
loans. The sponsor further agrees that such loans shall be converted into Private Placement Units, at the price of $10.00 per unit. To
the extent the amount of such loans is less than $1,100,000, the sponsor acknowledges and agrees that it (or, if applicable, it and any
transferees of Private Placement Units) shall surrender for cancellation any and all rights to up to an aggregate of 110,000 Private Placement
Units at $10.00 per unit.

We incurred $8,898,201 of transaction
costs, consisting of $1,150,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $848,201 of other offering costs.

We intend to use substantially all of
the funds held in the trust account, including any amounts representing interest earned on the trust account, which interest shall be
net of taxes payable and excluding deferred underwriting commissions, to complete our initial business combination. We may withdraw interest
from the trust account to pay taxes, if any. To the extent that our share capital or debt is used, in whole or in part, as consideration
to complete an initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance
the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

We intend to use the funds from the
Subscription Promissory Note primarily to identify and evaluate target businesses, perform business due diligence on prospective