Trump Sons Launch SPAC for American Manufacturers

Eric and Donald Trump Jr. are backing a SPAC targeting American manufacturers. The SPAC, New America Acquisition I Corp., plans a $300 million public offering on the NYSE. SPACs are blank-check firms that merge with private companies and take them public. This is the Trump sons' latest venture beyond their real-estate empire.

New America Acquisition I Corp. (NAA), a SPAC (special purpose acquisition company) led by Kevin McGurn, has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) to raise $300 million. The offering consists of 30 million units at $10 per unit, with each unit entailing one share of Class A common stock and one-half of a warrant exercisable for one share of Class A common stock at $11.50 per share [1].

The SPAC, based in Florida, aims to target businesses that align with American values and priorities, focusing on long-term growth and U.S. industrial capacity. The core focus is on companies headquartered or primarily operating in the United States, playing a role in revitalizing domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains. The SPAC's advisory board includes Donald J. Trump Jr., Eric Trump, and Kyle Wool, who bring extensive leadership and business expertise to support the mission [1].

NAA intends to list its units on the New York Stock Exchange (NYSE). The offering will be managed by Dominari Securities and D. Boral Capital. Interested investors can obtain a preliminary prospectus from EDGAR on the SEC’s website or from the underwriters listed in the press release [1].

The SPAC's filing does not guarantee a successful IPO, and there are several risks and uncertainties associated with the proposed offering, including unanticipated developments that could impact the process. The forward-looking statements in the press release reflect management's estimates and beliefs as of the filing date and may not materialize as anticipated [1].

References:
[1] https://www.morningstar.com/news/globe-newswire/9505326/new-america-acquisition-i-corp-files-registration-statement-for-a-300-million-proposed-initial-public-offering