Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 28

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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al shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of Cayman law. In the event the Company is not the surviving company upon completion of the initial Business
Combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-eighth
(1/8) of one ordinary share underlying each right upon consummation of the Business Combination. If the Company is unable to complete
the initial Business Combination within the required time period and the Company will redeem the public shares for the funds held in the
Trust Account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.

15

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Representative Shares — The
Company issued to Clear Street LLC, the representative of the underwriters in the Initial Public Offering, 200,000 ordinary shares (the
“representative shares”) at the time of the consummation of Initial Public Offering and 30,000 representative shares at the
closing of the over-allotment option. The holders of the representative shares have agreed (i) that they will not transfer, assign or
sell any such shares without our prior consent until the completion of the initial Business Combination, (ii) to waive their redemption
rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of the initial Business
Combination and (iii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the Company
fails to complete its initial Business Combination within 15 months from the closing of the Initial Public Offering (or up to 21 months
from the closing if the Company extends the period of time to consummate a Business Combination).

The representative shares have been deemed compensation
by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of sales of the Initial
Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant to FINRA Rule 5110(e)(1), these securities will
not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the
securities by any person for a period of