Drugs Made In America Acquisition amends Power Analytics merger terms to add founder share forfeiture, earnout provisions

Drugs Made In America Acquisition updated its merger deal with Power Analytics Global, which would combine the firms into a Nasdaq-listed company.

Amendment No. 3 requires the former sponsor to forfeit at least 50% of founder shares, with the rest subject to $12.5 and $15 earnouts.

It also calls for surrender of 430,000 private placement rights, cancellation of 45,092 ordinary shares, and added lock-ups for other founder holders.

The company must launch a tender or exchange offer for public rights at $0.25-$0.35 per right, funded outside the trust account.

Minimum cash was reset to a $30 million target and $15 million floor, with talks opened on adding a third target by Sept. 30, 2026.