Donald Trump Jr. and Eric Trump, are back in the Business Spotlightthis with a $300 million SPAC aiming to Scoop up a U.S.-based Manufacturer. The Blank-Check Company, "New America Acquisition I Corp.", Disclosed in a Securities Filing, that it's Hunting for a Deal in the Manufacturing Sspace, initially Highlighting Targets that could benefit from Federal or State Incentives like Grants or Procurement Programs.
That Language was later Removed from the Filing, after Questions surfaced over Possible Conflicts-of-Interest, given the Trumps' Involvement.
The Deal Structure gives both Brothers a Significant Financial Interest. Eric Trump holds 3 million Founder Shares and Donald Trump Jr. holds 2 Million. The SPAC's Advisory Board also Features Kyle Wool, President of Trump Tower-based Dominari Holdingsan Investment Bank, tied Closely to the Trump Organization.
This is One of several Business Ventures the Trump Sons have recently taken on, Spanning Drones, Crypto, and Conservative Media Sectors with Deep Regulatory Exposure. Their Growing Footprint has drawn Political Scrutiny, though the Trump Family has pushed back on any Conflict-of-Interest Concerns.
This isn't their First SPAC Rodeo. Trump Jr. recently backed GrabAGun Digital Holdings, which just went Public through a similar Vehicle.
And Trump Media & Technology Group (NASDAQ:DJT) the Parent of Truth Socialalso, completed a SPAC Merger earlier in 2024. Trump (R) holds a Major Stake in that Firm via a Blank Trust Overseen by Trump Jr., a Position that now Represents nearly One-Third of His estimated $6.4 Billion Net Worth, according to Bloomberg. Whether New America Acquisition I Corp. Lands a Headline making Deal remains to be seen, but the Playbook looks familiar.
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