De-SPAC LOI values Power Analytics at $1.0B with DMAA (NASDAQ: DMAA)

Q: What did Drugs Made in America Acquisition Corp. (DMAA) announce in this 8-K?

DMAA disclosed a letter of intent with Power Analytics Global Corp. for a potential de-SPAC transaction. The deal would make Power Analytics a public company, pending due diligence, valuation adjustments, and execution of a definitive business combination agreement.

Q: Is the DMAA and Power Analytics de-SPAC transaction final or binding?

The transaction is not yet final or binding . DMAA and Power Analytics only signed a letter of intent. The terms remain subject to further negotiation, completion of due diligence, and execution of a definitive business combination agreement before any merger could proceed.

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Drugs Made in America Acquisition Corp. entered into a non-binding letter of intent with Power Analytics Global Corp. on April 7, 2026 for a potential de-SPAC transaction that would take Power Analytics public. The LOI anticipates a Target valuation of approximately $1.0 billion, subject to adjustment based on due diligence, capital structure, net debt, working capital and market conditions, and will require negotiation and execution of a definitive business combination agreement.

Positive

Identification of a de-SPAC target with a $1.0 billion indicative valuation provides a clear potential path to complete a business combination, subject to due diligence and execution of a definitive agreement.

Negative

None.

Insights

DMAA signs a non-binding $1.0B de-SPAC LOI, still early-stage.

Drugs Made in America Acquisition Corp. has identified Power Analytics Global Corp. as a potential merger partner, outlining a de-SPAC transaction where Power Analytics would become a public company. The LOI framework centers on an anticipated valuation of about $1.0 billion.

The valuation is explicitly subject to adjustment based on due diligence, capital structure, net debt, working capital and prevailing market conditions, and the deal still requires a negotiated business combination agreement. This makes the LOI an indicative step rather than a finalized transaction.

The key milestone mentioned is the execution of a definitive business combination agreement following due diligence. Subsequent disclosures would be expected if the parties agree terms or, alternatively, if they terminate discussions, as this LOI currently only sets an initial understanding.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Indicative Target valuation: $1.0 billion LOI date: April 7, 2026

2 metrics

Indicative Target valuation $1.0 billion Anticipated valuation for Power Analytics in LOI

LOI date April 7, 2026 Date DMAA entered into LOI with Power Analytics

Key Terms

de-SPAC transaction, Letter of Intent, emerging growth company

3 terms

de-SPAC transaction financial

"for a de-SPAC transaction resulting in Target becoming a public company"

A de-SPAC transaction is the process by which a privately held company becomes a public company by combining with a special purpose acquisition company (SPAC), allowing the private business to start trading on a stock exchange without a traditional initial public offering. It matters to investors because it suddenly opens a new investment opportunity but also brings rapid changes in ownership, fresh financial disclosures and potential price volatility and dilution—think of a local shop joining a national franchise and immediately being sold to the public.

Letter of Intent financial

"entered into a letter of intent (the “LOI”) with Power Analytics"

A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.

emerging growth company regulatory

"Emerging growth company Item 8.01 Other Events On April 7, 2026"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/08/2026 - 09:00 AM

FAQ

What did Drugs Made in America Acquisition Corp. (DMAA) announce in this 8-K?

DMAA disclosed a letter of intent with Power Analytics Global Corp. for a potential de-SPAC transaction. The deal would make Power Analytics a public company, pending due diligence, valuation adjustments, and execution of a definitive business combination agreement.

What is the anticipated valuation for Power Analytics in the DMAA de-SPAC LOI?

The LOI anticipates a valuation of approximately $1.0 billion for Power Analytics Global Corp. This figure may be adjusted based on due diligence, capital structure, net debt, working capital levels, and broader market conditions before any definitive agreement is signed.

Is the DMAA and Power Analytics de-SPAC transaction final or binding?

The transaction is not yet final or binding. DMAA and Power Analytics only signed a letter of intent. The terms remain subject to further negotiation, completion of due diligence, and execution of a definitive business combination agreement before any merger could proceed.

How would the DMAA and Power Analytics deal affect Power Analytics’ status?

If completed, the de-SPAC transaction would make Power Analytics a public company. The current LOI outlines that the merger between DMAA and Power Analytics Global Corp. is intended to result in the Target becoming publicly traded following closing.

What factors can change the $1.0 billion valuation in the DMAA LOI?

The $1.0 billion valuation is subject to several adjustments. It can change based on the outcomes of due diligence, Power Analytics’ capital structure, net debt levels, working capital position, and overall market conditions when the definitive terms are negotiated.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d) of the

Securities Exchange Act of 1934

April 7, 2026

Date of Report (Date of earliest event reported)

Drugs Made In America Acquisition Corp.

(Exact Name of Registrant as Specified in Charter)

Cayman Islands		001-42467		99-2394788
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

420 Lexington Avenue, Suite 1402

New York, NY

10170

(Address of Principal Executive Offices)

(Zip Code)

646-726-7074

Registrant’s telephone number, including area code:

1 East Broward Boulevard; Suite 700

Fort Lauderdale, FL 33301

(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 (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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, $0.0001 par value and one right to receive one-eighth of one ordinary share	DMAAU	The Nasdaq Stock Market LLC
Ordinary shares, par value $0.0001 per share	DMAA	The Nasdaq Stock Market LLC
Rights, each entitling the holder to receive one-eighth of one Ordinary Share	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 8.01 Other Events

On April 7, 2026, Drugs Made in America Acquisition Corp. (the “Company”) entered into a letter of intent (the “LOI”) with Power Analytics Global Corp., a Delaware corporation (the “Target”) for a de-SPAC transaction resulting in Target becoming a public company. The terms of the transaction are subject to further negotiation and execution of a business combination agreement although it is anticipated that the valuation for Target will be approximately $1.0 billion, subject to adjustment based on due diligence, capital structure, net debt, working capital and market conditions. A copy of the Letter of Intent is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number		Description
10.1		Letter of Intent
104		Cover Page Interactive Data File

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: April 8, 2026

	DRUGS MADE IN AMERICA ACQUISITION CORP.

	By:	/s/ Roger Bendelac
	Name:	Roger Bendelac
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

EX-10.1 LETTER OF INTENT 18.4 KB