Company: DMAAR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076681
Chunk: 103

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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 or other similar business combination with one or more businesses. We intend to effectuate our initial business combination
using cash derived from the proceeds of the Initial Public Offering (as defined below) and the sale of the Private Placement Units (as
defined below), our shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete an initial business combination will be successful.

While we may pursue a business combination target
in any business, industry or geographical location, we intend to focus our search for businesses in the pharmaceutical industry. The Company
is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and
emerging growth companies.

The registration statement for the Company’s
initial public offering (the “IPO” or “Initial Public Offering”) was declared effective on January 27, 2025. On
January 29, 2025, we consummated our Initial Public Offering of 20,000,000 units (the “Units”). Each Unit consists of one
ordinary share, $0.0001 par value (“ordinary share”) and one right to receive one-eighth (1/8) of one ordinary share upon
the consummation of an initial business combination. The Units were sold at an offering price of $10.00 per unit, generating gross proceeds,
before expenses, of $200,000,000. We granted the underwriters a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments,
if any.

19

Simultaneously with the closing of the IPO, we
consummated the private placement with Drugs Made In America Acquisition LLC, our sponsor, of 400,000 units (the “Private Placement
Units”) at a price of $10.00 per unit, for $4,000,000. The Private Placement Units are identical to the Units sold in the IPO, except
that the Private Placement Units, including the underlying securities, may not, subject to certain limited exceptions, be transferable,
assignable or salable by the sponsor until the earlier of: (i) with respect to 50% of the Private Placement Units, the earlier of six
months after the date of the consummation of our initial business combination and the date on which the closing price of our ordinary
shares equals or exceeds $