Drugs Made In America Acquisition Corp. is a SPAC — a blank check company with no operations or revenue — formed solely to raise capital, hold it in trust, and use it to acquire an operating business. The company raised $230M in its IPO in early 2025, placing roughly $241M (including interest) into a trust account as of March 2026. Its stated acquisition focus is AI, pharma, and sectors requiring rapid innovation, though it can pursue targets in any industry. As of April 2026, the company has signed a non-binding letter of intent to acquire Power Analytics Global Corp., an enterprise technology platform focused on AI, machine learning, quantum analytics, and cybersecurity, at an anticipated valuation of roughly $1.0B — though no definitive agreement has been signed. The SPAC's business model centers on the sponsor receiving roughly 9.9M founder shares for a nominal $35,000 investment; if a deal closes, those shares convert into equity of the combined company, generating a large return for the sponsor. Public shareholders invest at $10.00 per unit and retain the right to redeem at approximately $10.05 per share if they choose not to participate in the deal. In early 2026, the company experienced significant management disruption when founder Lynn Stockwell resigned as CEO and board member following a governance incident at an affiliated SPAC; Roger Bendelac was appointed as the new CEO. The company confirms the trust account was unaffected, and is now seeking shareholder approval to extend its deal deadline by up to 12 months to April 2027.