Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 931

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 931
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 underwriters exercised their option to purchase their over-allotment option an additional 3,000,000
Units. As such, 1,285,714 shares are no longer subject to forfeiture.

The Sponsor has entered into a letter agreement
with the Company pursuant to which, with certain limited exceptions, the Founder Shares and the Private Placement Units, including the
underlying securities, are not transferable, assignable or salable (except to directors and officers and other persons or entities affiliated
with the Company’s initial shareholders, each of whom will be subject to the same transfer restrictions) until the earlier of: (i)
with respect to 50% of the Founder Shares and the Private Placement Units, the earlier of six months after the date of the consummation
of the initial Business Combination and the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.50
per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing after the initial Business Combination and (ii) with respect to the remaining 50% of
the Founder Shares and the Private Placement Units, six months after the date of the consummation of the initial Business Combination,
or earlier, in either case, if, subsequent to the initial Business Combination, the Company consummates a liquidation, merger, share exchange
or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities
or other property.

Administrative Support Agreement

The Company has entered into an Administrative
Services Agreement, effective on January 7, 2025, pursuant to which the Company has agreed to pay the Sponsor or an affiliate $10,000
for office space, and administrative and support services. Upon completion of the initial business combination or the Company’s
liquidation, the administrative services agreement will terminate, and the Company will cease paying these monthly fees. As of December
31, 2024 no expense was incurred.

F-12

Promissory Note — Related Party

On June 13, 2024, the Sponsor issued an unsecured
promissory note to the Company (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal
amount of $500,000. On November 21, 2024, the Sponsor amended the Promissory Note to increase the amount