Drugs Made In America Acquisition II (DMII)
Blank-check company seeking a pharmaceutical-focused business combination.
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Uses a SPAC structure to search for and merge with a business, with an intended focus on pharmaceutical companies supporting domestic production of critical drugs. It has no commercial revenue before a deal and relies on trust assets, shareholder approvals, redemptions, and outside financing to complete one.
Operates as a blank-check company, seeking an initial business combination rather than selling drugs or other products. The stated search focus is pharmaceutical businesses that can strengthen U.S. production of critical drugs, though its mandate permits a transaction in any industry or geography.
Executes the SPAC process by sourcing and evaluating targets, negotiating a deal, arranging any required shareholder approval and financing, and offering eligible shareholders redemption rights. Its target criteria favor established businesses with defensible models, stable free cash flow, and multiple growth paths, but those criteria are guidelines.
Depends on a completed combination to become an operating company. Public shares can be redeemed in connection with a deal; absent a completed combination within the required period, trust assets are returned to public shareholders and the company liquidates under Cayman Islands law.
Company facts
Categories
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $175.0K · Total debt $450.0K · Total assets $514.1M · Shareholders' equity $496.0M
- Revenue
- $0
- Operating income
- −$112.2K
- Net income
- $4.4M
No dividends on record.
| Institutions68 holders · as of Mar 31, 2026 | 68.96% | 43.93M shares | |
| Insiders4 holders · as of Oct 17, 2025 | 0.63% | 400.0K shares | |
| Otherremainder | 30.41% | 19.37M shares |
63.70M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Magnetar Financial LLCInstitution | 4.24% | 2.70M | 13Fas of Mar 31, 2026 |
Mmcap International Inc. SPCInstitution | 4.24% | 2.70M | 13Fas of Mar 31, 2026 |
Karpus Management, Inc.Institution | 4.08% | 2.60M | 13Fas of Mar 31, 2026 |
Glazer Capital, LLCInstitution | 3.69% | 2.35M | 13Fas of Mar 31, 2026 |
Healthcare of Ontario Pension Plan Trust FundInstitution | 3.14% | 2.00M | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 26, 2025 | Drugs Made In America Acquisition II LLC | 10 percent owner | +1,400,000 | |
| Sep 26, 2025 | Drugs Made In America Acquisition II LLC | 10 percent owner | −7,966,667 | $1.50 |
| Sep 26, 2025 | Lynn Stockwell | director, 10 percent owner, officer: CEO and Exe. Chair of Board | +1,400,000 | |
| Sep 26, 2025 | Lynn Stockwell | director, 10 percent owner, officer: CEO and Exe. Chair of Board | −7,966,667 | $1.50 |
Not reported.