Company Summary: Drugs Made In America Acquisition Corp.

Overview

• Type: Blank check company (special purpose acquisition company)
• Jurisdiction: Cayman Islands
• Business Focus: Identifying and acquiring a pharmaceutical-related operating business in the United States with the goal of building a vertically integrated, domestic pharmaceutical manufacturing platform.

Business Model & Strategy

• Primary Objective: Effectuate a merger, acquisition, or other business combination with a company within the pharmaceutical sector.

• Industry Focus:

  • Leading companies in the pharmaceutical industry with sustainable, defensible business models
  • Companies with long-term growth potential, both organic and inorganic
  • Businesses that benefit from secular industry tailwinds and can generate stable cash flow
  • Targets that align with our management team's expertise in pharmaceuticals, especially those reducing reliance on foreign supply chains, improving supply chain resilience, and addressing drug shortages

• Target Business Characteristics:

  • Industry leader with demonstrated growth
  • Sufficient scale to meet Nasdaq's 80% net assets test at acquisition
  • Firm strategic and financial fit with long-term growth prospects
  • Capable of integrating add-on acquisitions
  • Benefits from our management's industry relationships and operational expertise

• Post-Business Combination Vision:

  • Fully integrated American pharmaceutical manufacturing platform
  • Focus on API production, drug manufacturing, and distribution directly to pharmacies and patients
  • Emphasis on domestically produced, cost-competitive drugs
  • Address supply chain vulnerabilities and drug shortages
  • Incorporate advanced manufacturing technologies, AI, and continuous processes

Corporate Activities & Operations

• Current Status: No operations or revenue to date; in organizational and financing stages
• Employees: 2 officers; no full-time employees prior to business combination
• Customers: None (company is a shell and has not yet acquired or served customers)

Financial Data

• Revenue: $0 (no operating revenues)
• Net Income (as of December 31, 2024): -$279,845 (net loss from organizational costs)
• Assets:
  • Cash: $1,351
  • Prepaid expenses: $3,640
  • Total Assets: $550,824 (including deferred offering costs of $545,833)
• Liabilities:
  • Total liabilities: $795,669 (including accrued expenses and a related-party promissory note)
• Shareholders' Equity:
  • Founder Shares issued: 9,857,143 (after forfeiture of some initial shares)
  • Total Shareholders’ Deficit: -$244,845

Capital & Ownership

• Funding & Capital Raising:
  • Initial purchase of founder shares: $35,000
  • Initial public offering: 20 million units at $10.00 each (gross proceeds: $200 million)
  • Private placement: 400,000 units at $10.00 each (gross: $4 million)
  • Over-allotment exercise: an additional 3 million units at $10.00 each (gross: $30 million)
  • Additional private placement: 30,000 units at $10.00 each (gross: $300,000)
  • Total proceeds placed in trust: approximately $231 million
• Shareholders & Ownership:
  • 33,517,143 ordinary shares outstanding as of March 28, 2025
  • Ownership mainly held by sponsor and management, with the sponsor owning 12.5% (4,188,780 shares)
  • Management and directors collectively own about 13.7% (5, 4,588,780 shares)

Key Points

• Operational Status: No current operations, revenue, or customers
• Business Aim: To become a leader in "Made in America" pharmaceutical production, reducing drug shortages and supply chain risks
• Management & Human Resources: 2 officers, no full-time employees prior to acquisition
• Financials: No revenue yet, incurred organizational and financial structuring costs, net loss of ~$280k as of December 31, 2024