Every 8-K that Drugs Made In America Acquisition Corp. (DMAA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow DMAA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DMAA filings page.
Drugs Made In America Acquisition Corp. (DMAA) entered into an Amended and Restated Definitive Merger Agreement with Power Analytics Global Corp. (PAGC) on September 8, 2026, fixing PAGC’s equity value at US$2.85 billion inclusive of APQC Inc and the UltraSolar intellectual property.
The SPAC will first domesticate from Cayman to Delaware, then merge a DMAA subsidiary into PAGC, leaving PAGC as a wholly owned subsidiary and DMAA as the Nasdaq-listed parent issuing up to 265,116,279 new common shares as stock consideration. The deal requires PAGC to complete the APQC acquisition and transfer of UltraSolar patents before closing, obtain a fairness opinion, and meet a US$15 million Minimum Cash Condition, with a target Available Closing Cash of US$30 million. The merger is an affiliated transaction due to common ownership between PAGC and BV Advisory Partners, so independent and disinterested DMAA directors approved the agreement and valuation. DMAA may raise additional capital via PIPEs, which would dilute all shareholders, and the transaction must close by April 29, 2027, or the agreement may be terminated under specified circumstances.
Drugs Made In America Acquisition Corp. is further revising its planned business combination with Power Analytics Global Corp. through Amendment No. 3 to their merger agreement. The amendment requires the former sponsor to forfeit at least 50% of its founder shares, with the remainder subject to earnout vesting: half vest if the share price reaches $12.50 and half at $15.00 for 20 trading days within a 30-day period after closing, with any unvested shares forfeited on the fifth anniversary.
The sponsor’s 430,000 private placement rights will be surrendered for no consideration and 45,092 related ordinary shares cancelled, and other founder holders are to sign lock-ups. DMAA will, with PAGC’s consent, pursue either a cash tender offer, exchange offer, or consent solicitation to address public rights, at $0.25–$0.35 per right if a tender offer is used, funded outside the trust. Merger consideration mechanics are revised to reference fully diluted shares outstanding, and additional pre-closing financings are permitted. The amendment also restates minimum cash conditions, targeting $30,000,000 with a floor of $15,000,000, and outlines a contingent three-party structure involving a potential additional target that must be locked in by September 30, 2026. Given common ownership between PAGC and BV Advisory Partners, additional related-party protections are added, including a fairness opinion from an independent firm and decisions reserved to independent, disinterested directors.
Drugs Made In America Acquisition Corp. entered into a definitive merger agreement with Power Analytics Global Corp., an artificial intelligence, advanced analytics and quantum-resistant security solutions company. PAGC will merge into DMAA (or a subsidiary), and the combined business is intended to trade on Nasdaq after closing.
The agreement targets a $1.0 billion enterprise valuation for PAGC, subject to a Valuation Milestone Schedule tied to verified revenue contracts, with a Floor Valuation of $300 million. Based on final capitalization and milestones, former PAGC shareholders are expected to own about 90% of the surviving entity and existing DMAA shareholders about 10%, before any PIPE or other closing-related issuances.
DMAA aims to deliver around $30 million of cash at closing, with flexibility down to $15 million alongside valuation and ownership adjustments. Closing requires shareholder approval, effective SEC registration, Nasdaq listing approval and PAGC meeting the floor valuation and debt-free conditions. The parties also executed two technical amendments updating governing law, termination clarifications and notice details.
Drugs Made in America Acquisition Corp. reported that shareholders approved an Extension Proposal at an Extraordinary General Meeting held on April 27, 2026, allowing the SPAC more time to complete a business combination. The proposal passed by special resolution with 18,906,281 votes for and 4,892,646 against.
As of the April 7, 2026 record date, 33,517,143 ordinary shares were issued and outstanding, and 23,798,927 shares were voted, representing about 70.58% of eligible shares. In connection with the vote, holders of 9,440,230 ordinary shares elected to redeem for cash from the trust.
The company will remove $99,336,016.67, or about $10.52 per share, from its trust account to pay redeeming holders. After these redemptions, 24,276,913 ordinary shares will remain outstanding, including 13,559,770 sold in the initial public offering. The Board approved an initial one‑month extension of the SPAC’s term to May 29, 2026.
Drugs Made In America Acquisition Corp. reported new executive compensation arrangements. On April 22, 2026, it signed an updated Statement of Work with Titan Advisory Services, which supplies Chief Financial Officer services from Saleem Elmasri under a consulting structure.
The prior consulting terms included $3,500 in monthly compensation and a grant or transfer of 100,000 ordinary shares to Mr. Elmasri upon engagement. On the same date, the company also entered into a CEO Compensation Agreement with Aleutian Equity Holdings LLC, the designated compensation vehicle for Chief Executive Officer Roger E. Bendelac, including customary indemnification and limitation-of-liability provisions.
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.
Drugs Made In America Acquisition Corp. entered into a financing arrangement with BV Advisory Partners, LLC, starting with a $100,000 interim convertible note as the first tranche of a contemplated $500,000 funding commitment. The note matures in six months, bears no interest, and can convert, at the investor’s option after a business combination, into shares of the combined entity at a 35% discount to the market price at conversion.
The company plans to use the proceeds for accounting, audit, and other business combination-related expenses and has not yet agreed to a merger. Under the related investment agreement, a second tranche of $200,000 is expected within 21 days, with remaining amounts available on an as-needed basis. The investor is also being offered at least 40% of the economic benefit equivalent to sponsor-level economics and has introduced a potential business combination target focused on artificial intelligence, machine learning, quantum analytics, and cybersecurity solutions, though no letter of intent or definitive agreement has been signed.
Drugs Made In America Acquisition Corp. reported leadership changes following issues at an affiliated SPAC’s working capital account. The sponsor of Drugs Made In America Acquisition II Corp. withdrew an aggregate $1,100,000 from the affiliate’s working capital account, including $325,000 to repay a working capital note and $208,000 for other offering costs and expenses. The affiliate’s financial statements also showed a $566,269 overpayment to the sponsor, and the sponsor later withdrew no less than $200,000 more to pay expenses unrelated to the affiliate. After the affiliate’s board directed the sponsor to return the full overpayment amount and learned on February 12, 2026 that it could not be repaid, the boards of the affiliate and the company requested the resignation of Lynn Stockwell as Chief Executive Officer, Executive Chair, and director. The board received her resignation effective February 28, 2026 and removed her from all roles. On the same date, Roger Bendelac was appointed Chief Executive Officer of the company; his compensation will be determined later.
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.