Drugs Made In America Acquisition II Corp. Announces Closing of $500,000,000 Initial Public Offering

Rhea-AI Summary

Drugs Made In America Acquisition II Corp. (Nasdaq: DMIIU) has successfully completed its initial public offering, raising $500 million in gross proceeds through the sale of 50 million units at $10.00 per unit. Each unit comprises one ordinary share and one right to receive one-tenth of an ordinary share upon business combination completion.

The company also conducted a concurrent private placement of 1.2 million units at $10.00 per unit, generating additional proceeds of $12 million. The underwriters have a 45-day option to purchase up to 7.5 million additional units to cover over-allotments. $500 million has been deposited into a trust account from the combined proceeds.

Positive

• None.

Negative

• Significant dilution potential from rights conversion feature
• Additional dilution possible from 7.5 million unit over-allotment option

Insights

SPAC and IPO Specialist

Drugs Made In America Acquisition II Corp. successfully raised $500M in its SPAC IPO, creating a significant new blank-check vehicle in the pharmaceutical space.

Drugs Made In America Acquisition II Corp. has successfully completed a $500 million initial public offering, pricing 50 million units at $10.00 each. This represents a substantial capital raise for a SPAC (Special Purpose Acquisition Company) that will likely target the pharmaceutical manufacturing sector, as suggested by its name.

The company has structured its offering with units containing one ordinary share plus one right to receive one-tenth of an ordinary share upon completing a business combination - a typical SPAC structure designed to incentivize investors to hold through acquisition. The securities began trading on Nasdaq under "DMIIU" with plans for the components to eventually trade separately under "DMII" and "DMIIR".

Beyond the main offering, the company secured an additional $12 million through a concurrent private placement of 1.2 million units at the same $10.00 price point. The full $500 million has been placed into a trust account, which is standard practice for SPACs to protect investor capital until a suitable acquisition target is identified.

The underwriters, led by Cantor Fitzgerald & Co., have a 45-day option to purchase up to 7.5 million additional units to cover potential over-allotments, which could further increase the capital available for acquisition.

With this substantial funding, Drugs Made In America Acquisition II Corp. now joins the ranks of well-capitalized SPACs searching for acquisition targets, specifically positioned to potentially address pharmaceutical manufacturing in America, an area of strategic importance following supply chain vulnerabilities exposed in recent years.

Fort Lauderdale, FL, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Drugs Made In America Acquisition II Corp. (Nasdaq: DMIIU) (the “Company”) today announced that it closed its initial public offering of 50,000,000 units at $10.00 per unit. The gross proceeds from the offering were $500 million before deducting underwriting discounts and offering expenses. The units began trading on The Nasdaq Global Market ("Nasdaq") under the ticker symbol "DMIIU” on September 25, 2025.

Each unit consists of one ordinary share and one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols "DMII" and "DMIIR," respectively. The underwriters have been granted a 45-day option to purchase up to an additional 7,500,000 units offered by the Company to cover over-allotments, if any.

Concurrently with the closing of the initial public offering, the Company closed a private placement of 1,200,000 private placement units at a price of $10.00 per unit, resulting in gross proceeds of $12,000,000. The private placement units are identical to the units sold in the initial public offering, subject to certain limited exceptions as described in the final prospectus. From the proceeds of the initial public offering and the private placement, $500 million has been deposited into the trust account.

Cantor Fitzgerald & Co. acted as the sole book-running manager in the offering. Loeb & Loeb LLP served as legal counsel to the Company. Ellenoff Grossman & Schole LLP served as legal counsel to Cantor Fitzgerald & Co.

The offering was made only by means of a prospectus, copies of which may be obtained from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 5th Floor, New York, NY 10022, by email at prospectus@cantor.com. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission ("SEC") on September 24, 2025.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Drugs Made In America Acquisition II Corp.

The Company is a blank check company incorporated in the Cayman Islands as an exempted company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. It has not selected any specific business combination target and has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination. While the Company may pursue a business combination target in any business, industry or geographical location, it intends to focus its search for businesses in the pharmaceutical industry. The Company believes that it is possible to mitigate risks in the U.S. medical supply chain by investing in companies that will reduce America’s overreliance on production of pharmaceuticals from concentrated geographic regions through investments in strategic on-shoring of advanced domestic manufacturing technologies for critical drugs.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact Information

Drugs Made In America Acquisition II Corp.
1 East Broward Boulevard, Suite 700
Fort Lauderdale, FL 33301

Lynn Stockwell
Chief Executive Officer and Executive Chair
Email: executive@dmaacorp.com
Phone: (954) 870-3099

FAQ

How much did Drugs Made In America Acquisition II Corp. (DMIIU) raise in its IPO?

DMIIU raised $500 million in gross proceeds through the sale of 50 million units at $10.00 per unit, plus an additional $12 million from a private placement.

What is included in each DMIIU IPO unit?

Each unit consists of one ordinary share and one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination.

When did DMIIU stock begin trading on Nasdaq?

DMIIU units began trading on The Nasdaq Global Market on September 25, 2025 under the ticker symbol 'DMIIU'.

What are the trading symbols for DMIIU's securities?

The units trade under 'DMIIU', and once separate trading begins, the ordinary shares and rights will trade under 'DMII' and 'DMIIR' respectively.

Who was the underwriter for DMIIU's IPO?

Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering.