Financial Performance - The company reported a net loss of $279,845 for the period from May 23, 2024, through December 31, 2024, primarily due to general and administrative costs[94]. - Management has raised substantial doubt about the company's ability to continue as a going concern within one year after the financial statements are issued[104]. Liquidity and Capital Structure - As of December 31, 2024, the company had cash of $1,351, indicating limited liquidity prior to the Initial Public Offering[95]. - The company has no long-term debt or off-balance sheet financing arrangements as of December 31, 2024[105]. - The company may need to raise additional funds to complete its business combination or to cover redemptions of public shares[103]. Initial Public Offering - The Initial Public Offering generated gross proceeds of $200,000,000 from the sale of 20,000,000 Units at a price of $10.00 per unit[96]. - An additional $30,000,000 was raised from the exercise of the underwriters' over-allotment option for 3,000,000 Units at the same price[96]. - A total of $231,150,000 was placed in the trust account following the Initial Public Offering and related transactions[97]. - The company incurred transaction costs of $8,898,201, which included $1,150,000 in cash underwriting fees and $6,900,000 in deferred underwriting fees[99]. - The company intends to use substantially all funds in the trust account to complete its initial business combination[100].
Drugs Made In America Acquisition Corp Unit(DMAAU) - 2024 Q4 - Annual Report