Here are the 10-K annual reports from Drugs Made In America Acquisition Corp. Rights (DMAAR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow DMAAR 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 DMAAR filings page.
Drugs Made In America Acquisition Corp., a Cayman Islands-based blank check company, filed its annual report detailing progress and risks as it searches for a merger target. The SPAC raised $231.15 million in trust from its IPO and private placements and reported 2025 net income of $5.94 million, driven by $8.76 million of interest on trust investments.
The company remains a shell with no operations and faces a going concern uncertainty due to limited cash outside the trust and a deadline to complete a business combination. It is seeking to extend its combination period up to April 29, 2027 through shareholder approval and sponsor-funded monthly trust contributions.
Governance shifted significantly after the prior CEO resigned in early 2026 following issues at an affiliated SPAC sponsor, and a new CEO and CFO were appointed. DMAA secured a $500,000 convertible note commitment, including a $100,000 interim loan, and signed a non-binding LOI with Power Analytics Global Corp. for a potential $1.0 billion de‑SPAC transaction, which remains subject to negotiation and diligence. Management also disclosed material weaknesses in internal controls and plans remediation.