Drugs Made In America Acquisition Corp. 8-K

What Happened

• Drugs Made In America Acquisition Corp. filed an 8-K on May 1, 2026 disclosing that shareholders approved an amendment at an Extraordinary General Meeting on April 27, 2026 to allow up to twelve one-month extensions of the company’s business combination deadline (from the April 29, 2026 termination date through April 29, 2027). The amendment requires the sponsor to deposit the lesser of $300,000 or $0.04 per non‑redeemed public share for each one‑month extension.
• In connection with the vote, holders of 9,440,230 ordinary shares elected to redeem their shares for a pro rata portion of the Trust Account. $99,336,016.67 (about $10.52 per share) will be removed from the Trust Account to pay those redemptions. The Board approved an initial one‑month extension to May 29, 2026.

Key Details

• Extraordinary General Meeting date: April 27, 2026; 8‑K filed May 1, 2026.
• Redemption: 9,440,230 shares redeemed for $99,336,016.67 (≈ $10.52/share).
• Post‑redemption shares outstanding: 24,276,913 ordinary shares (including 13,559,770 sold in the IPO).
• Extension mechanics: up to 12 one‑month extensions (through April 29, 2027), sponsor deposits the lesser of $300,000 or $0.04 per non‑redeemed public share per month; Form of Amendment attached as Exhibit 3.1.

Why It Matters

• For investors, the vote preserves the SPAC’s ability to continue seeking a business combination for up to an additional year, but reduces the Trust Account by roughly $99.3 million due to redemptions. That reduction lowers the cash available per remaining public share and can affect the capital available for a potential merger or the per‑share liquidation value if no deal is completed. The sponsor’s deposit requirement partially offsets the cost of extensions but does not fully replace redeemed funds.