Eric Trump and Donald Trump Jr. have joined forces as advisers to a new special-purpose acquisition company (SPAC), New America Acquisition I Corp., which launched a filing Monday for a $300 million IPO on the New York Stock Exchange targeting US manufacturers.
According to the SEC filing, the SPAC aims to acquire one or more businesses with a combined enterprise value of at least $700 million, focusing specifically on companies that contribute to revitalizing domestic manufacturing, strengthening critical supply chains, and expanding innovation ecosystems, especially in sectors like aerospace and critical minerals.
Eric Trump holds three million founder shares and Donald Trump Jr. two million founder shares in New America, collectively valued potentially in the multi-million?dollar range upon successful deals. [Read more…] about Trump sons launch SPAC to invest $300 million in US manufacturing