Drugs Made in America Acquisition Corp. (DMAAU) to Raise $500 Million in IPO

Drugs Made in America Acquisition Corp. (DMAAU) expects to raise $500 million in an IPO on the week of October 28th, IPO Scoop reports. The company will issue 50,000,000 shares at a price of $10.00 per share.

The company has a market cap of $706.4 million.

EF Hutton served as the underwriter for the IPO.

Drugs Made in America Acquisition Corp. provided the following description of their company for its IPO: “We are a newly organized blank check company. We intend to focus our search for business combination targets on the pharmaceutical industry. (Incorporated in the Cayman Islands) Lynn Stockwell has been our CEO and Executive Chair of the Board since June 2024. She is the founder of Bright Green Corp. (Nasdaq: BGXX), where she has been a board member since its inception in 2019 and Chair of the Board since February 2024. From 2015 to 2020, Ms. Stockwell was Managing Member of Bright Green Innovations, LLC, a pioneering plant-based pharmaceutical research company recognized for its compliance with federal legal standards. In this role, Ms. Stockwell expertly managed business, industry, and medical research relationships. In addition to her leadership roles, Ms. Stockwell has also served as a director at a hospital, where she spearheaded fundraising initiatives advocating for the use of natural additives as a safer alternative to opioids. Her dedication extends to her sponsorship of biomedical research and clinical trials, particularly in the area of plant-based bio-identical hormone replacement.  Glenn Worman has been our CFO since July 2024. Mr. Worman has served as CFO of Insight Acquisition Corp., a special purpose acquisition company, since April 2024. Mr. Worman has been a partner in the New York office of Seaton Hill Partners, LP since November 2022. Between 2015 and 2022, Mr. Worman served as the CFO and president of National Holdings Corporation. From 2011 to 2015, he served as the CFO for the Americas for ICAP, plc. Prior to ICAP, plc, Mr. Worman held senior positions at, among other companies, Deutsche Bank, Morgan Stanley, and Merrill Lynch. Mr. Worman is an accomplished and diverse financial services executive with a history of providing strong, effective leadership and developing and executing strategy across a spectrum of businesses. With nearly four decades of experience, he is adept at organizational analysis and implementing change, ensuring proper controls and sources of liquidity are in place, and advising executive management on business direction.  (Note: Drugs Made in America Acquisition Corp. filed its S-1 on Aug. 1, 2024, and disclosed the terms for its SPAC IPO: 50.0 million units at $10.00 each to raise $500.0 million. Each unit consists of one ordinary share and one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination.)         “.

Drugs Made in America Acquisition Corp. was founded in 2024 and has 0 employees. The company is located at 1 East Broward Boulevard, Suite 700 Fort Lauderdale, FL 33301 and can be reached via phone at (954) 870-3099.