Company: DMAAR
Filing Date: 2025-01-22
Form Type: POS AM
Source: 0001213900-25-005176
Chunk: 208

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-01-22
Form: POS AM
Chunk 208
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 in connection with an intended initial business combination. As of September30, 2024, we have borrowed $552,015 under such promissory note. This loan is non -interestbearing and unsecured and will be repayable upon the closing of our initial business combination or upon our dissolution, whichever occurs first. Repayment of the loan will be funded out of the offering proceeds held outside the trust account. No proceeds from our trust account would be used to repay such loan unless such proceeds are released to us upon completion of our initial business combination. The value of our sponsor’s interest in this loan transaction corresponds to the principal amount outstanding under any such loan. 132 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 units issued to our sponsor. The terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans, and such terms will be subject to the approval of our audit committee. We do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver of any and all rights to seek access to funds in our trust account. After our initial business combination, members of our management team who remain with us may be paid consulting, management or other fees from the combined company with any and all amounts being fully disclosed to our shareholders, to the extent then known, in the proxy solicitation or tender offer materials, as applicable, furnished to our shareholders.