Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 27

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 multiplied by the product of the number of unredeemed public shares,
multiplied by $10.00 and (ii) 25.0%). The deferred fee becomes payable to the underwriters from the amounts held in the Trust Account
solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement. In addition,
the Company agreed to issue the underwriters 230,000 ordinary shares, denoted as representative shares.

NOTE 7 — SHAREHOLDERS’ DEFICIT

Preference Shares — The
Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share with such designations, voting and other
rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2025 and December
31, 2024, there were no preference shares issued or outstanding.

Ordinary Shares — The
Company is authorized to issue 220,000,000 ordinary shares with a par value of $0.0001 per share. Holders of ordinary shares are entitled
to one vote for each share. As of June 30, 2025 and December 31, 2024, there are 10,517,143 and 9,857,143 ordinary shares issued and outstanding,
excluding 23,000,000 and 0 share subject to redemption, respectively. Of the ordinary shares outstanding at December 31, 2024, an aggregate
of up to 1,285,714 ordinary shares were subject to surrender and forfeiture to the extent that the underwriters’ over-allotment
option was not exercised in full or in part so that the number of Founder Shares would equal 30% of the Company’s issued and outstanding
ordinary shares after the Initial Public Offering (not including the Private Placement Units and the representative shares and assuming
Sponsor does not purchase any Public Shares in the Initial Public Offering). In February 2025 the over-allotment option was exercised
in full by the underwriters and these shares are no longer subject to forfeiture.

Rights — Except
in cases where the Company is not the surviving company in a Business Combination, each holder of a right will automatically receive one-eighth
(1/8) of one ordinary share upon consummation of the initial Business Combination. The Company will not issue fractional shares in connection
with an exchange of rights. Fraction