New America Acquisition I Corp., a special-purpose acquisition company backed by Eric Trump and Donald Trump Jr., filed on 4 August for an initial public offering of up to $300 million. The blank-check firm plans to sell 30 million units at $10 apiece on the New York Stock Exchange, according to its registration statement. The SPAC says it will seek to merge with businesses that strengthen U.S. industrial capacity, including companies positioned to benefit from domestic tax credits and federal contracts. In securities filings, the vehicle cited a target aggregate enterprise value of at least $700 million. Eric Trump and Donald Trump Jr. will serve on the advisory board and are slated to receive a combined five million founder shares—three million for Eric and two million for Donald Jr. Media executive Kevin McGurn is listed as chief executive, while D. Boral Capital and Dominari Securities are acting as joint book-running managers. The offering extends the Trump family’s growing use of SPACs to tap public markets, following earlier blank-check deals involving firearms retail, drone manufacturing and media holdings.
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New America Acquisition I Corp, a blank-check firm backed by Eric Trump and Donald Trump Jr., on Monday filed for an initial public offering of up to $300 million in the United States. https://t.co/mWitveVaBQ
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