Drugs Made In America Acquisition, a blank check company targeting pharmaceutical businesses in the US, filed on Thursday with the SEC to raise up to $500 million in an initial public offering.
The Fort Lauderdale, FL-based company plans to raise $500 million by offering 50 million units at $10. Each unit consists of one share of common stock and rights to one-tenth of a share. At the proposed deal size, Drugs Made In America Acquisition would command a market value of $706 million.
The company is led by CEO and Executive Chair Lynn Stockwell, the founder and Chair of Bright Green (Nasdaq: BGXX), and CFO Glenn Worman, a partner at SeatonHill Partners and the CFO of Insight Acquisition (NYSE: INAQ). The company plans to target a pharmaceutical business in the United States.
The Fort Lauderdale, FL-based company was founded in 2024 and plans to list on the Nasdaq under the symbol DMAAU. EF Hutton is the sole bookrunner on the deal.
