DMAAUMEDIUM SIGNALMANAGEMENT10-K

DMAAU experienced a key management departure with CFO Glenn Worman's resignation in October 2025, while the SPAC continues operating with improved liquidity as current liabilities declined meaningfully.

The departure of the Chief Financial Officer represents a notable leadership change during a critical period for this pharmaceutical-focused SPAC, which could impact deal execution capabilities and financial oversight. The company appears to be progressing through typical SPAC milestones, with units beginning separate trading in February 2025 and maintaining an active search for acquisition targets in the pharmaceutical industry.

Comparing 2026-04-15 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

The balance sheet shows improved short-term liquidity with current liabilities declining meaningfully from $796K to $376K, suggesting better working capital management or resolution of near-term obligations. The company maintains its SPAC structure with outstanding share count increasing modestly to 33.7 million shares. Overall, the financial position appears stable for a SPAC in the target acquisition phase, though the CFO departure introduces some operational uncertainty.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
-52.7%
$796K→$376K

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2026-04-15
PRIOR — 2025-03-31
ADDED
As of April 15, 2026, the registrant had 33,717,143 ordinary shares outstanding (inclusive of shares included in outstanding units).
On June 17, 2024, we issued to Drugs Made In America Acquisition LLC, our sponsor, an aggregate of 22,361,111 ordinary shares (the founder shares ) for an aggregate purchase price of $35,000, or approximately $0.0016 per share.
Simultaneously with the closing of the IPO, we consummated the private placement with our sponsor of 400,000 units (the Private Placement Units ) at a price of $10.00 per unit, for $4,000,000.
There is no guarantee that our shareholders at the extraordinary general meeting will approve this proposal.
Recent Developments The ordinary shares and rights comprising the units began separate trading on February 25, 2025.
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REMOVED
As of March 28, 2025, the registrant had 33,517,143 ordinary shares outstanding (inclusive of shares included in outstanding units).
On June 17, 2024, we issued to the sponsor an aggregate of 22,361,111 ordinary shares (the founder shares ) for an aggregate purchase price of $35,000, or approximately $0.0016 per share.
Our initial business combination and value creation strategy will be to identify, acquire and, after our initial business combination, assist in the growth of a pharmaceutical business in the United States.
Business Strategy Our acquisition and value creation strategy is to identify, acquire and, after our initial business combination, further accelerate the growth of a company in the pharmaceutical industry.
We believe our management team s knowledge, decades of experience and relationships across this industry can effect a positive transformation or augmentation of an existing business model through implementing proven business strategies within the pharmaceutical industry.
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