Company: DMAAR
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112096
Chunk: 87

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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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 Placement Units, generating gross proceeds of $300,000.

Following
the closing of the IPO, a total of $ 231,150,000 of the net proceeds from the sale of Units in the IPO (including the Over-Allotment
Option Units) and the private placement of the Private Placement Units, were placed in a trust account established for the benefit of
the Company’s public shareholders (the “trust account”) established by VStock Transfer, LLC, our transfer agent and
maintained by Wilmington Trust, National Association acting as trustee. Except with respect to interest earned on the funds held in the
trust account that may be released to us to pay our taxes, if any, the funds held in the trust account will not be released from the
trust account until the earliest to occur of: (1) our completion of an initial business combination; (2) the redemption of any public
shares properly submitted in connection with a shareholder vote to amend our amended and restated memorandum and articles of association
(A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to
redeem 100% of our public shares if we do not complete our initial business combination within the completion window or (B) with respect
to any other material provisions relating to shareholders’ rights or pre-initial business combination activity; and (3) the redemption
of our public shares if we have not completed an initial business combination within the completion window, subject to applicable law.
The funds in the trust account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in
money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government
treasury obligations and/or held as cash or cash items (including in demand deposit accounts).

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