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Drugs Made In America Acquisition Corp.
DMAAUCIK 0002028614NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthBlank ChecksFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$5.94M
Total Assets
$239.92M
Equity
$-7.26M
Shares Out
33.72M
Op. Cash Flow
$-539.2K
Business
Drugs Made In America Acquisition Corp. is a blank check company formed to effectuate a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. It seeks to identify and acquire companies in the pharmaceutical sector and intends to use proceeds from its offering and other financings to consummate an initial business combination. Post-combination, the company plans to offer end-to-end pharmaceutical capabilities including API and drug manufacturing and distribution. Its focus is on U.S. pharmaceutical markets and on-shoring supply chain solutions to serve pharmacies, hospitals and patients domestically.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 |
|---|---|---|
| General and administrative costs | 3 | |
| Loss from operations | −3 | |
| Interest earned on cash and investments held in Trust Account | 9 | |
| Total other income | 9 | |
| NET INCOME (LOSS) | 6 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-05-31 |
|---|---|---|---|---|
| Cash | 6,137 | 1,351 | — | |
| Prepaid expenses and other current assets | 6,054 | 3,640 | — | |
| Total current assets | 12,191 | 4,991 | — | |
| Cash and investments held in Trust Account | 240 | — | — | |
| Deferred offering costs | — | 545,833 | — | |
| Total non-current assets | 240 | 545,833 | — | |
| TOTAL ASSETS | 240 | 550,824 | — | |
| Accounts payable and accrued expenses | 222,184 | 77,280 | — | |
| Accrued offering costs | 153,988 | 56,065 | — | |
| Total current liabilities | 376,172 | 795,669 | — | |
| Deferred underwriting fee payable | 7 | — | — | |
| Total non-current liabilities | 7 | — | — | |
| Total Liabilities | 7 | 795,669 | — | |
| Commitments and Contingencies (Note 6) | — | — | — | |
| Ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $10.43 and $0 per share as of December 31, 2025 and 2024, respectively | 240 | — | — | |
| Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding as of December 31, 2025 and 2024 | — | — | — | |
| Ordinary shares, $0.0001 par value; 220,000,000 shares authorized; 10,717,143 and 9,857,143 shares issued and outstanding, excluding 23,000,000 and 0 shares subject to redemption as of December 31, 2025 and 2024, respectively(1) | 1,072 | 986 | — | |
| Additional paid-in capital | — | 34,014 | — | |
| Accumulated deficit | −7 | −279,845 | — | |
| Total Shareholders Deficit | −7 | −244,845 | — | |
| TOTAL LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS DEFICIT | 240 | 550,824 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 |
|---|---|---|
| Payment of operating costs through promissory note | 141,976 | |
| Share issuance expense | 2 | |
| Prepaid expenses | −6,054 | |
| Accounts payable and accrued expenses | 144,904 | |
| Net cash used in operating activities | −539,187 | |
| Investment of cash into Trust Account | −231 | |
| Net cash used in investing activities | −231 | |
| Proceeds from sale of Units, net of underwriting discounts paid | 229 | |
| Proceeds from issuance of Class B ordinary shares to Sponsor | — | |
| Proceeds from promissory note - related party | — | |
| Proceeds from sale of Private Placement Units | 3 | |
| Expenses paid by Sponsor under share subscription receivable | 540,778 | |
| Repayment of promissory note - related party | −900,000 | |
| Payment of offering costs | 3,195 | |
| Net cash provided by financing activities | 232 | |
| Net Change in Cash | 4,786 | |
| Share subscription receivable | 1 | |
| Offering costs included in equity | 848,201 | |
| Offering costs included in accrued offering costs | 94,516 | |
| Deferred offering costs paid through promissory note related party | 204,000 | |
| Accretion and remeasurement of redeemable ordinary shares to redemption value | 22 | |
| Deferred underwriting fee payable | 7 | |
| Offering costs paid via prepaid expense | 3,640 | |
| Prepaid services contributed by Sponsor through promissory note related party | — |
Filings
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