DMAA amends PAGC merger: sponsor forfeits 50% founder shares, rights buyback $0.25-$0.35, potential three-party deal

Drugs Made In America Acquisition Corp.

Sponsor to forfeit at least 50% of founder shares; remainder subject to earnout at $12.50/$15.00; 430K private placement rights surrendered.
Company to commence tender offer for rights at $0.25-$0.35 per right, funded from non-trust sources; rights not tendered remain outstanding.
Merger consideration recalculated based on fully diluted shares outstanding; minimum cash target $30M, floor $15M.
Parties in negotiations for potential three-party business combination; contingent Amendment No. 4 pre-approved, effective if LOI signed by Sept 30, 2026.
Related-party protections: independent fairness opinion required; independent directors to make certain determinations.

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