Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 1083

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 1083
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 restated memorandum
and articles of association.

We have entered into an administrative services
agreement pursuant to which we have agreed to pay our sponsor $10,000 per month for office space, administrative and support services.
Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.

If any of our directors or officers becomes aware
of a business combination opportunity that falls within the line of business of any entity to which he or she has then-current fiduciary
or contractual obligations, he or she may be required to present such business combination opportunity to such entity prior to presenting
such business combination opportunity to us, subject to their fiduciary duties under Cayman Islands law. Our directors and officers currently
have certain relevant fiduciary duties or contractual obligations that may take priority over their duties to us.

Our audit committee will review and approve all
payments that were made 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