Eric Trump and Donald Trump Jr. have announced the formation of New America Acquisition I Corp., a special purpose acquisition company (SPAC) aiming to raise $300 million through an initial public offering (IPO) on the New York Stock Exchange. The SPAC intends to acquire a U.S.-based company involved in domestic manufacturing and critical supply chains, with a particular focus on sectors such as aerospace and critical minerals.
The initiative reflects the Trump family’s ongoing engagement in ventures aligned with government priorities, particularly in revitalizing domestic manufacturing. The SPAC’s filing specifies that it seeks to invest in companies “well-positioned to benefit from federal or state-level incentives, such as grants, tax credits, government contracts, or preferential procurement programs.”
Eric Trump and Donald Trump Jr. each hold 3 million and 2 million founder shares, respectively, and serve on the advisory board of New America Acquisition I Corp. The offering is underwritten by Dominari Securities, headquartered in Trump Tower, and D Boral Capital. Notably, Dominari Securities includes both sons on its advisory board.
The launch of this SPAC follows the Trump brothers’ recent involvement in various ventures, including cryptocurrency mining and weapons retail, aligning with President Trump’s initiatives to support digital assets and U.S. manufacturing.
However, the initial filing raised concerns when it indicated that the target company should be “well-positioned” to benefit from government incentives. This language was later removed after inquiries by the Associated Press, which highlighted potential conflicts of interest given President Trump’s position.
The Trump family’s latest venture underscores their continued influence in sectors aligned with national economic priorities, particularly in enhancing domestic manufacturing capabilities.
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