Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 8

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 earned on the Trust Account)
at the time of the agreement to enter into the initial business combination. The Company will only complete a Business Combination if
the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling
interest in the target business sufficient for it not to be required to register as an investment company under the Investment Company
Act of 1940, as amended (the “Investment Company Act”).

5

DRUGS MADE IN AMERICA ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Following the closing of the Initial Public Offering
on January 29, 2025 and the over-allotment option closing on February 18, 2025 an amount of $231,150,000 ($10.05 per Unit) from the net
proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Units was placed in a trust account
(“Trust Account”), located in the United States and invested only in U.S. government treasury obligations with a
maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company
Act which invest only in direct U.S. government treasury obligations and/or held as cash or cash items (including in demand deposit
accounts), as determined by the Company, until the earlier of: (i) the completion of a Business Combination; (ii) the redemption
of any Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum
and articles of association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection
with its initial business combination or to redeem 100% of the Public Shares if the Company does not complete its initial business combination
within the Combination Period (as defined below) or (B) with respect to any other material provisions relating to shareholders’
rights or pre-initial business combination activity; and (iii) the redemption of the Public Shares if the Company has not completed
an initial business combination within the Combination Period, subject to applicable law, as described below.

Transaction costs amounted to $8,898,201 consisting
of $1,150,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $