Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 265

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 265
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 business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.

Securities Authorized for Issuance Under
Equity Compensation Plans

None.

Recent Sales of Unregistered Securities; Use
of Proceeds from Registered Securities

Unregistered Sales

None.

Use of Proceeds

On January 29, 2025, we consummated
our IPO of 20,000,000 Units. Each 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 Units were sold at an offering price of $10.00 per unit, generating gross
proceeds, before expenses, of $200,000,000. We granted the underwriters a 45-day option to purchase up to 3,000,000 additional Units to
cover over-allotments, if any. Simultaneously with the closing of the IPO, we consummated the private placement with Drugs Made In America
Acquisition LLC, our sponsor, of 400,000 Private Placement Units at a price of $10.00 per unit, for $4,000,000.

On February 13, 2025, the underwriters
exercised the over-allotment option in full, and the closing of the issuance and sale of 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.

12

As of February 18, 2025, 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 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