Drugs Made In America Acquisition Corp. announces CFO transition

Rhea-AI Filing Summary

Drugs Made In America Acquisition Corp. (DMAA) reported a change in its chief financial officer role. On October 8, 2025, CFO and principal financial and accounting officer Glenn Worman resigned, and he stated that his departure was not due to any disagreement with the company’s operations, policies, or practices. On November 17, 2025, the company appointed Saleem Elmasri as its new CFO and principal financial and accounting officer, providing his services through a Master Services Agreement with Titan Advisory Services LLC. Titan will receive $42,000 per year, or $3,500 per month, for Mr. Elmasri’s CFO services, and Mr. Elmasri will receive 100,000 ordinary shares, either granted by the company or transferred by the CEO. He brings about 20 years of financial and consulting experience, including senior roles at PwC and several advisory firms.

Insights

Corporate Governance Analyst

CFO change with consulting structure and equity grant; governance-impactful but financially modest.

The filing reports a same-day resignation of the prior Chief Financial Officer, effective October 8, 2025, with an explicit statement that it did not arise from any disagreement on operations, policies, or practices. The company then appoints Saleem Elmasri as Chief Financial Officer and principal financial and accounting officer, effective November 17, 2025, and engages him through a consulting master services agreement with Titan Advisory Services LLC. This preserves a designated principal financial and accounting officer, which is important for financial reporting and SEC compliance.

Under the Consulting Agreement, the company will pay Titan Advisory Services LLC $42,000 per year (or $3,500 per month) for Mr. Elmasri’s CFO services, and will grant or transfer 100,000 ordinary shares to him upon engagement. The filing describes Mr. Elmasri’s background as a CPA with extensive experience in financial and transaction advisory roles, which supports the company’s ability to meet accounting and reporting requirements. He is also expected to enter into indemnity, letter, and registration rights agreements on the same forms used for other directors and officers, signaling consistency in governance terms.

The key items to watch are execution and effect of the Master Services Agreement and the equity grant of 100,000 ordinary shares upon engagement, along with the transition from the prior CFO as of October 8, 2025 to Mr. Elmasri’s effective date of November 17, 2025. These dates frame the change in the principal financial and accounting officer role and may be relevant when reviewing future periodic reports and any subsequent 8-K disclosures that involve financial reporting or control matters.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

October 8, 2025

Date of Report (Date of earliest event reported)

Drugs Made In America Acquisition Corp.

(Exact Name of Registrant as Specified in its Charter)

Cayman Islands		001-42467		99-2394788
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

1 East Broward Boulevard, Suite 700 Fort Lauderdale, FL		33301
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (954) 870-3099

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Units, each consisting of one Ordinary Share, par value $0.0001 per share, and one Right to receive one-eighth (1/8) of an Ordinary Share		DMAAU		The Nasdaq Stock Market LLC
Ordinary Shares		DMAA		The Nasdaq Stock Market LLC
Rights		DMAAR		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Principal Financial and Accounting Officer

On October 8, 2025, Glenn Worman, the Chief Financial Officer and principal financial and accounting officer of Drugs Made In America Acquisition Corp. (the “Company”) delivered to the Company a notice of resignation from his position as Chief Financial Officer and principal financial and accounting officer of the Company. Mr. Worman’s resignation is effective October 8, 2025. Mr. Worman indicated that his resignation was not the result of any disagreement with the Company regarding its operations, policies, practices or otherwise.

Appointment of Principal Financial and Accounting Officer

On November 17, 2025, the Company appointed Saleem Elmasri as Chief Financial Officer and principal financia and accounting officer of the Company and entered into a Master Services Agreement (the “Consulting Agreement”) with Titan Advisory Services LLC for the provision of such principal financial and accounting officer services by Mr. Elmasri. Mr. Elmasri’s appointment to principal financial and accounting officer of the Company will be effective beginning November 17, 2025. Under the terms of the Consulting Agreement, the Company will pay Titan Advisory Services LLC $42,000 per year, or $3,500 per month, for services rendered by Mr. Elmasri as Chief Financial Officer. In addition, the Company shall grant, or the Company’s Chief Executive Officer, Lynn Stockwell, shall transfer 100,000 shares of the Company’s ordinary shares to Saleem Elmasri upon engagement.

Mr. Elmasri’s biographical information is as follows:

Mr. Elmasri is a CPA and seasoned business professional with 20 years of experience in financial and management consulting. Mr. Elmasri began his career at PricewaterhouseCoopers(“PwC”) and worked on several of the firm’s Fortune 500 clients, primarily focused on the Life Sciences and Pharmaceutical industry. From PwC, he transitioned to lead advisory practices at boutique consulting firms, specializing in transaction and complex accounting advisory.

From September 2020 to the present, he has served as the Managing Partner at Titan Advisory Services LLC, a boutique advisory firm focused on providing collaborative and customized financial operations and CFO services to early-stage companies. From June 2019 to August 2020, he was Managing Director at DLA LLC. From March 2018 to June 2019, he worked as Senior Director for Pine Hill Group LLC, a boutique accounting and transaction advisory firm. From September 2007 to March 2018, Mr. Elmasri advanced through a series of progressively responsible roles, culminating in the position of Senior Manager for PricewaterhouseCoopers LLP, a Big-4 Accounting and Global Professional Services firm. Mr. Elmasri received B.S. degrees in Accounting and Finance from Rutgers University in 2007.

In connection with his appointment, Mr. Elmasri is expected to enter into an Indemnity Agreement, a LetterAgreement and a Registration Rights Agreement with the Company on the same terms as the other directors and officers of the Company that executed similar agreements at the time of the consummation of the Company’s initial public offering. The Indemnity Agreement, Letter Agreement and Registration Rights Agreement will be in the forms of the agreement that are filed as exhibits to the Company’s Annual Report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission. Other than the foregoing, Mr. Elmasri is not party to any arrangement or understanding with any person pursuant to which he was appointed as an executive officer of the Company, nor is he party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company. There are no family relationships between Mr. Elmasri and any of the Company’s directors and executive officers. 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: November 17, 2025

DRUGS MADE IN AMERICA ACQUISITION CORP.
By:	/s/ Lynn Stockwell
Name:	Lynn Stockwell
Title:	Chief Executive Officer

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FAQ

Why did DMAA’s previous CFO Glenn Worman resign?

On October 8, 2025, Glenn Worman resigned as Chief Financial Officer and principal financial and accounting officer of Drugs Made In America Acquisition Corp. (DMAA). He indicated that his resignation was not due to any disagreement with the company’s operations, policies, or practices.

Who is the new CFO of DMAA and when did he start?

Saleem Elmasri was appointed as Chief Financial Officer and principal financial and accounting officer of DMAA. His appointment is effective November 17, 2025, when he begins serving in the CFO role through Titan Advisory Services LLC.

How is DMAA compensating its new CFO, Saleem Elmasri?

Under a Master Services Agreement, DMAA will pay Titan Advisory Services LLC $42,000 per year, or $3,500 per month, for Mr. Elmasri’s services as CFO. In addition, Mr. Elmasri will receive 100,000 ordinary shares, either granted by the company or transferred by CEO Lynn Stockwell.

What is the background and experience of DMAA’s new CFO, Saleem Elmasri?

Saleem Elmasri is a CPA with about 20 years of experience in financial and management consulting. He began his career at PricewaterhouseCoopers, working with Fortune 500 clients, mainly in Life Sciences and Pharmaceuticals, and later held senior roles at boutique advisory firms. Since September 2020, he has been Managing Partner at Titan Advisory Services LLC.

Does DMAA disclose any related-party or family relationships for the new CFO?

DMAA states that there are no family relationships between Saleem Elmasri and any of the company’s directors or executive officers. It also notes that, other than the described agreements, he is not party to any arrangement for his appointment and is not involved in transactions requiring disclosure under Item 404(a) of Regulation S-K.

What agreements will DMAA’s new CFO enter into with the company?

In connection with his appointment, Saleem Elmasri is expected to enter into an Indemnity Agreement, a Letter Agreement, and a Registration Rights Agreement with DMAA. These will be on the same terms as those signed by other directors and officers at the time of the company’s initial public offering.

What securities of DMAA are listed and where are they traded?

DMAA lists several securities on The Nasdaq Stock Market LLC: units (each consisting of one ordinary share and one right to receive one-eighth of an ordinary share) trading under the symbol DMAAU, ordinary shares under DMAA, and rights under DMAAR.