Eric and Trump Jr-backed manufacturing SPAC files for $300 million US IPO

Written by Ateev Bhandari and KoH Gui Qing

(Reuters) -New America Acquisition I Corp, an empty breach company with the support of Eric Trump and Donald Trump Junior on Monday for a preliminary public offer of $ 300 million in the United States.

This step is the latest in a series of projects carried out by the family of US president Donald Trump, including the Mimi coin that was launched in January and World Liberty Financial, a partially owned by the President.

Brotherhood Trump announced a series of new commercial projects last year, as they worked as consultants paid on corporate councils and expanding their investments in a financial company, golf courses, hotels, communications, and cryptocurrencies, and they say that the president’s policies and business schedules.

Eric and Trump Junior will work in the Consultative Council of New America, where they have received five million shares combined in the company. The veteran in the media will lead Kevin McGorn the company. Reuters request refused to comment.

Kyle Wool, CEO of Dominarii Securities – which includes New America’s offers – is also in the New America. The Trump Trump Brothers are also among the largest shareholders in Dominii Holdings, the parents of the Dominarii Securities.

“The founder of the five million brotherhood, in addition to the counseling roles of Dominarii Securities”, said, “Kyle Wool”, in addition to the counseling roles of Dominarii Securities “, said, in addition to the counseling roles of Dominarii Securities,” Kyle Wool, can be closely monitored. “

The two brothers previously used acquisition companies for other special purposes (Spacs) to launch retailers and firearms media.

In the deposit, New America said it aims to buy companies of a combined institution of $ 700 million or more, and will target companies that “play a meaningful role in stimulating local manufacturing, expanding ecosystems for innovation, and strengthening critical supply chains.”

New America said that these companies will be their headquarters or mainly work in the United States and may participate in industries such as aviation and critical minerals.

Since he took office, Trump has revealed contracts of trade relations in the pursuit of protective trade measures that he believed is necessary for national security.

SPACS is the Shell companies that use their public subscription revenues to integrate with a private company, and thus take it publicly while avoiding organizational scrutiny in the traditional list.

New America said that it will offer 30 million units in the public subscription at a price of $ 10 each, with the aim of the list on the New York Stock Exchange.