Karpus Reports 2.74M DMAAU Shares, Sole Voting and Dispositive Power

Rhea-AI Filing Summary

Karpus Management reported beneficial ownership of 2,744,109 common shares of Drugs Made In America Acquisition Corp., equal to 8.19% of the class. The shares are held directly in accounts managed by Karpus, which states it has sole voting and sole dispositive power over the shares. Karpus is a New York-formed registered investment adviser that notes it is controlled by City of London Investment Group plc but maintains informational barriers so that voting and investment decisions are made independently by Karpus. The filing indicates the position is held in the ordinary course of business and not for the purpose of changing control of the issuer.

Positive

• Material disclosed ownership: Karpus reports a clear, material 8.19% stake (2,744,109 shares), which improves transparency for the market.
• Sole control specified: The filing states Karpus has sole voting and dispositive power over the reported shares.
• Compliance clarity: The filing explains informational barriers with the parent company, addressing potential attribution concerns.

Negative

• None.

Insights

Securities Analyst

TL;DR: A registered adviser owns a meaningful 8.19% stake with sole voting and dispositive power, disclosed under Schedule 13G/A.

The filing shows Karpus Management holds 2,744,109 common shares in managed accounts and asserts ordinary-course investment purposes rather than an attempt to influence control. For investors, an 8.19% stake is material enough to warrant monitoring for any shift to active engagement or a move from passive 13G to active 13D disclosure. The sole voting and dispositive power means Karpus can act unilaterally on voting and disposition decisions for these shares.

Compliance/Risk Analyst

TL;DR: Disclosure appears procedurally complete and emphasizes established informational barriers to its parent.

Karpus identifies itself as a registered investment adviser and documents informational barriers relative to its parent company, which addresses attribution concerns. The certification states the position is held in the ordinary course of business and not intended to change control, aligning with Schedule 13G treatment. From a compliance perspective, the filing provides the required ownership breakdown (sole voting/dispositive powers) and percentage of class, reducing immediate regulatory ambiguity.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Drugs Made In America Acquisition Corp.

(Name of Issuer)

Common

(Title of Class of Securities)

G2847J104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G2847J104

1

Names of Reporting Persons

KARPUS MANAGEMENT, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,744,109.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,744,109.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,744,109.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.19 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Drugs Made In America Acquisition Corp.
(b)	Address of issuer's principal executive offices: 1 East Broward Boulevard Suite 700 Fort Lauderdale, FL 33301
Item 2.
(a)	Name of person filing: This statement is being filed by Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus" or the "Reporting Person"). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc ("CLIG"), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The Shares to which this Schedule 13G relates are owned directly by the accounts managed by Karpus.
(b)	Address or principal business office or, if none, residence: 183 Sully's Trail, Pittsford, New York 14534.
(c)	Citizenship: The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.
(d)	Title of class of securities: Common
(e)	CUSIP No.: G2847J104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,744,109.00
(b)	Percent of class: 8.19 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,744,109.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 2,744,109.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

KARPUS MANAGEMENT, INC.

Signature:	/s/ Jodi L. Hedberg
Name/Title:	Jodi L. Hedberg / Chief Compliance Officer
Date:	08/14/2025

FAQ

How many shares of DMAAU does Karpus Management own?

Karpus Management owns 2,744,109 common shares, representing 8.19% of the class.

Does Karpus have voting control over the DMAAU shares?

Yes. The filing discloses sole voting power and sole dispositive power for the 2,744,109 shares.

Are the DMAAU shares held for control or ordinary investment purposes?

The filing certifies the shares are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Is Karpus Management affiliated with another entity that could influence the holding?

Karpus states it is controlled by City of London Investment Group plc but also states informational barriers exist so Karpus independently exercises voting and investment power.

What type of SEC disclosure is this for DMAAU?

This is a Schedule 13G/A filing reporting beneficial ownership by an investment adviser under passive disclosure rules.