Eric Trump and Donald Trump Jr. have launched a new special purpose acquisition company (SPAC), New America Acquisition I Corp, aimed at acquiring a U.S.-based manufacturer that aligns with national economic and security priorities. The move marks the latest in a series of business ventures by the Trump family tied to sectors benefiting from government support and industrial revitalization efforts.
According to regulatory filings with the Securities and Exchange Commission (SEC), the SPAC will focus on companies that play a “meaningful role in revitalizing domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains.” It will target businesses well-positioned to benefit from federal or state-level incentives, including grants, tax credits, preferential procurement programs, or government contracts where there is a “clear U.S. economic or security interest.”
Strategic Focus and Potential Sectors
While the vehicle is primarily focused on traditional sectors, a person close to the project said a crypto-related acquisition is not entirely ruled out. However, the more likely targets include companies involved in data centers, drone technology, or brick-and-mortar manufacturing — what they describe as “a great American company.”
The SPAC plans to raise $300 million through a listing on the New York Stock Exchange, with underwriting led by Dominari Securities and D Boral Capital. Dominari Securities is headquartered in Trump Tower and features both Eric Trump and Donald Trump Jr. on its advisory board. D Boral Capital is the same investment bank that helped list Trump Media & Technology Group through a SPAC in 2022.
Leadership and Equity Stakes
Trump Jr. and Eric Trump hold significant equity positions in the new vehicle, with 2 million and 3 million founder shares respectively. Both will serve on New America’s advisory board, joining other close associates of the Trump business orbit, including Kyle Wool, CEO of Dominari Securities.
The new initiative comes amid increased political and financial engagement by the president’s sons, especially in sectors promoted by President Donald Trump’s economic agenda, such as digital assets, defense, and domestic industry.
Trump Jr. has recently backed GrabAGun, a firearms retailer that went public via a SPAC merger in July. Shares in that company have since fallen 44%. Eric Trump, meanwhile, serves as chief strategy officer at American Bitcoin, a cryptocurrency mining company also aligned with Trump’s digital asset advocacy.
A Broader Economic and Political Strategy
The Trump sons’ push into public markets through SPACs is seen as part of a broader alignment with the president’s call for a “patriotic economy” — encouraging investment in domestic infrastructure, energy, manufacturing, and technology. Their involvement in entities like Dominari Holdings, whose stock jumped 580% following the announcement of their advisory roles earlier this year, reflects the financial markets’ heightened interest in Trump-aligned ventures.
New America Acquisition I Corp signals a continued blend of political influence and investment strategy, tapping into sectors where the Trump administration’s economic policies are creating new commercial opportunities. As the offering moves forward, the markets will closely watch which company the SPAC ultimately targets — and how it fits into the wider Trump ecosystem.