Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 409

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 409
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 by us to our sponsor, directors, officers or our or any of their respective affiliates, which may include reimbursement
of any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and
performing due diligence on suitable business combinations. There is no cap or ceiling on the reimbursement of out-of-pocket expenses
incurred by such persons in connection with activities on our behalf.

24

On June 13, 2024, the sponsor
issued an unsecured promissory note to us, pursuant to which we 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 we may borrow to $750,000. On December 5, 2024, the sponsor further
amended the promissory note to increase the amount the Company may borrow to $1,850,000. As of December 31, 2024, we have borrowed $695,324
under such promissory note. The promissory note is non-interest bearing and will be due and payable upon the closing of our initial business
combination or upon our dissolution, whichever occurs first. On January 29, 2025, we repaid the sponsor $900,000.

We expect to fund our working capital requirements
prior to the time of our initial business combination with loans from our sponsor under the unsecured promissory note described above.
In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate
of our sponsor or certain of our directors and officers may, but are not obligated to, loan us funds as may be required. If we complete
our initial business combination, we may repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise,
such loans may be repaid only out of funds held outside the trust account. In the event that our initial business combination does not
close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our
trust account would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into units at a price of $10.00
per unit at the option of the lender. The units would be identical to the Private Placement Units issued to our sponsor. As of December 31, 2024,
no working capital loans