Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 68

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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mated the sale of 400,000 Private Placement Units at a price of $10.00 per Private Placement Unit in
a private placement to the Sponsor, for $4,000,000, of which $1,100,000 was not received and included as share subscription receivable.
Since the Initial Public Offering until June 30, 2025, the Sponsor has paid $404,175 in expenses on behalf of the Company (including $50,000
related to the administrative support agreement) affecting the share subscription receivable on the unaudited balance sheet to $695,825.
Each Private Placement Unit consists of one ordinary share and one right to receive one-eighth (1/8) of one ordinary share upon the consummation
of an initial business combination. The proceeds from the sale of the Private Placement Units are added to the net proceeds from
the Initial Public Offering held in the Trust Account. Simultaneously with the sale of the over-allotment option Units on February 18,
2025, the Sponsor purchased an additional 30,000 Private Placement Units at a purchase price of $10.00 per Private Placement Unit, generating
additional gross proceeds of $300,000. If the Company does not complete a Business Combination within the Combination Period, the proceeds
from the sale of the Private Placement Units held in the Trust Account will be used to fund the redemption of the Public Shares (subject
to the requirements of applicable law).

NOTE 5 — RELATED PARTIES

Founder Shares

On June 17, 2024, the Company issued to the
Sponsor an aggregate of 22,361,111 ordinary shares, par value $0.0001 per share, in exchange for $35,000 or approximately $0.0016 per
share. On November 6, 2024, the Sponsor surrendered and forfeited 12,503,968 ordinary shares to the Company for no consideration, following
which the Sponsor held 9,857,143 ordinary shares (the “Founder Shares”). All share and per share data has been retrospectively
presented. The Founder Shares included an aggregate of up to 1,285,714 shares subject to surrender and forfeiture to the extent that the
underwriters’ over-allotment was not exercised in full or in part, so that the number of Founder Shares will equal, on an as-converted
basis, approximately 30% of the Company’s issued and outstanding ordinary shares after the Initial Public