Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 57

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 upon the completion of a Business Combination with respect to the Company’s
rights. The Public Shares subject to redemption were recorded at a redemption value and classified as temporary equity upon the completion
of the Initial Public Offering in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification
(“ASC”) Topic 480, “Distinguishing Liabilities from Equity.”

Notwithstanding the foregoing, if the Company
seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s
amended and restated memorandum and articles of association provide that a Public Shareholder, together with any affiliate of such shareholder
or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its
shares with respect to more than an aggregate of 15% of the Public Shares, without the prior consent of the Company.

The initial shareholders and the Company’s
officers and directors have entered into a letter agreement, pursuant to which they have agreed to (i) waive their redemption rights
with respect to any founder shares, private shares and public shares held by them in connection with the completion of the initial Business
Combination, (ii) waive their redemption rights with respect to any founder shares, private shares and public shares held by them
in connection with a shareholders’ vote to amend the amended and restated memorandum and articles of association (A) to modify
the substance or timing of the obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of
the public shares if the Company does not complete the initial Business Combination within the Combination Period (as defined below) or
(B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity;
and (iii) waive their rights to liquidating distributions from the trust account with respect to any founder shares and private shares
they hold if the Company fails to complete the initial Business Combination within the Combination Period (although they will be entitled
to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete the initial
Business Combination within the Combination Period). If the Company submits the initial Business Combination to the public shareholders
for a vote, the initial shareholders, directors and officers