Drugs Made In America Acquisition, a blank check company targeting pharmaceutical businesses in the US, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one right to receive one-eighth of a share upon the completion of an initial business combination.
Drugs Made In America Acquisition is led by CEO and Chair Lynn Stockwell, the founder and Chair of 2022 direct listing Bright Green (BGXX; -99% from Nasdaq reference price). The SPAC plans to target a pharmaceutical business in the US.
Drugs Made In America Acquisition plans to list on the Nasdaq under the symbol DMAAU. Clear Street acted as sole bookrunner on the deal.
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