Company: DMAAR
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-046061
Chunk: 3

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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1,585,468)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (70,096)
  
    Accounts payable and accrued expenses 
     55,203 
  
    Net cash used in operating activities 
     (251,244)

    Cash Flows from Investing Activities: 

    Investment of cash into Trust Account 
     (231,150,000)
  
    Net cash used in investing activities 
     (231,150,000)

    Cash Flows from Financing Activities: 

    Proceeds from sale of Units, net of underwriting discounts paid 
     228,850,000 
  
    Proceeds from sale of Private Placement Units 
     3,200,000 
  
    Expenses paid by Sponsor under share subscription receivable 
     247,621 
  
    Repayment of promissory note - related party 
     (900,000)
  
    Payment of offering costs 
     3,195 
  
    Net cash provided by financing activities 
     231,400,816 

    Net Change in Cash 
     (428)
  
    Cash – Beginning of period 
     1,351 
  
    Cash – End of period 
    $923 

    Non-Cash investing and financing activities: 

    Share subscription receivable 
    $1,100,000 
  
    Offering costs included in equity 
    $848.201 
  
    Offering costs included in accrued offering costs 
    $94,516 
  
    Deferred offering costs paid through promissory note – related party 
    $204,000 
  
    Accretion of redeemable ordinary shares to redemption value 
    $14,910,562 
  
    Deferred underwriting fee payable 
    $6,900,000 

The accompanying notes are an integral part of
the unaudited financial statements. 

4

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Drugs Made In America Acquisition Corp. (the “Company”)
is a blank check company newly incorporated in the Cayman Islands on May 23, 2024. The Company was incorporated for the purpose of
effecting a merger, share exchange, asset acquisition, share purchase, recapital