New America Acquisition I Corp, a special purpose acquisition company (SPAC) backed by Eric Trump and Donald Trump Jr., officially filed on Monday for an initial public offering (IPO) in the United States, aiming to raise up to $300 million.
This move marks the latest in a growing portfolio of ventures associated with the Trump family, following recent launches such as a meme cryptocurrency earlier this year and World Liberty Financial, a crypto company partially owned by former President Donald Trump.
Over the past year, the Trump brothers have unveiled a series of new business initiatives, taking on paid advisory roles on corporate boards while broadening their investments across diverse sectors including finance, golf courses, hotels, telecommunications, and cryptocurrency mining. These ventures, they say, are aligned with the president’s economic policies and agenda.
Previously, Eric Trump and Donald Trump Jr. have leveraged other SPACs to bring firearms retailers and media companies public, showcasing their continued interest in using these investment vehicles to expand their business footprint.
According to the filing, New America Acquisition I Corp plans to target acquisitions of companies with a combined enterprise value of $700 million or more. The SPAC’s focus will be on firms that “play a meaningful role in revitalizing domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains.”
The target companies will be U.S.-based or primarily operating within the United States and are expected to be engaged in sectors such as aerospace and critical minerals, the filing added.
This strategy echoes Donald Trump’s tenure as president, during which he pursued protectionist trade policies, rolling back decades of international trade agreements in an effort to bolster national security through stronger domestic industry.
Both Eric Trump and Donald Trump Jr. will serve on New America’s advisory board and are slated to receive a combined five million shares in the company. Veteran media executive Kevin McGurn will take the helm as CEO of New America. McGurn declined to comment on the filing when contacted by Reuters.
Kyle Wool, CEO of Dominari Securities—the lead underwriter of New America’s IPO—is also a member of New America’s board. Notably, the Trump brothers hold significant stakes in Dominari Holdings, the parent company of Dominari Securities, further cementing their influence in the offering.
SPACs, commonly known as blank-check companies, raise capital through IPOs with the specific purpose of merging with private companies to take them public, effectively bypassing some of the regulatory scrutiny associated with traditional initial public offerings.
New America’s IPO will offer 30 million units priced at $10 each, with plans to list on the New York Stock Exchange. D. Boral Capital is serving as an additional underwriter for the offering.
This latest SPAC filing adds to the Trump family’s expanding portfolio of business activities and reflects their ongoing commitment to domestic manufacturing and industries that align with their stated economic vision.
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