Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2025

Summary of Significant Accounting Policies [Abstract]

Schedule of Ordinary Shares Subject to Possible Redemption

As of December 31, 2024, there were no shares subject to possible redemption. As of September 30, 2025, the ordinary shares subject to possible redemption reflected in the unaudited balance sheets are reconciled in the following table:

	Shares		Amount
Gross proceeds		20,000,000	$	200,000,000
Less:
Proceeds allocated to Public Rights				(2,978,000	)
Proceeds allocated to over-allotment option				(305,179	)
Ordinary share issuance cost				(7,703,027	)
Plus:
Remeasurement of carrying value to redemption value				11,986,206
Ordinary shares subject to possible redemption, January 29, 2025		20,000,000	$	201,000,000
Gross proceeds from exercise of over-allotment option		3,000,000		30,000,000
Less:
Proceeds allocated to Public Rights from exercise of over-allotment option				(446,700	)
Ordinary share issuance cost from exercise of over-allotment option				(1,047,367	)
Plus:
Exercise of over-allotment option				305,179
Remeasurement of carrying value to redemption value				2,924,356
Ordinary shares subject to possible redemption, March 31, 2025		23,000,000	$	232,735,468
Plus:
Remeasurement of carrying value to redemption value				2,420,498
Ordinary shares subject to possible redemption, June 30, 2025		23,000,000	$	235,155,966
Plus:
Remeasurement of carrying value to redemption value				2,448,266
Ordinary shares subject to possible redemption, September 30, 2025		23,000,000	$	237,604,232

Schedule of Basic And Diluted Net Income Per Ordinary Share

The following table presents a reconciliation of the numerator and denominator used to compute basic and diluted net income per ordinary share for each class of ordinary shares:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025				2025
	Redeemable shares		Non-redeemable shares		Redeemable shares		Non-redeemable shares
Basic net income per share:
Numerator:
Allocation of net income	$	1,499,082	$	685,481	$	3,813,036	$	1,914,649
Denominator:
Weighted-average shares outstanding		23,000,000		10,517,143		20,336,996		10,211,868
Basic net income per ordinary share	$	0.07	$	0.07	$	0.19	$	0.19

Diluted net income per share:
Numerator:
Allocation of net income	$	1,499,082	$	685,481	$	3,783,124	$	1,944,561
Denominator:
Weighted-average shares outstanding		23,000,000		10,517,143		20,336,996		10,453,407
Diluted net income per ordinary share	$	0.07	$	0.07	$	0.19	$	0.19

	Three Months Ended September 30, 2024					For The Period from May 23, 2024 (Inception) through September 30, 2024
	Redeemable		Non-Redeemable			Redeemable		Non-Redeemable
Basic and diluted net loss per share:
Numerator:
Allocation of net loss	$	—	$	(144,928	)	$	—	$	(199,859	)
Denominator:
Weighted-average shares outstanding		—		8,571,429			—		8,571,429
Basic and diluted net loss per ordinary share	$	—	$	(0.02	)	$	—	$	(0.02	)

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

Drugs Made In America Acquisition Corp. 10-Q