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Company advised by Trump sons said it hoped to benefit from fed money, then took it back
UNITED STATES, AUG 4 – New America Acquisition 1 Corp. aims to raise $300 million by selling shares on the New York Stock Exchange to invest in U.S. manufacturing aligned with federal incentives.
- A company that recently hired Donald Trump’s sons stated it hoped to benefit from federal grants and incentives linked to their father's position.
- After an inquiry from The Associated Press, the company revised the document and removed the statement about federal funding hopes.
- Lawyers claimed that the original inclusion of the grant statement was a 'mistake' made by a copyist.
- Kathleen Clark, an expert in government ethics, criticized the action, stating it was an 'attempt to exploit public office for private profit.
83 Articles
83 Articles
Associated Press News
Company advised by Trump sons said it hoped to benefit from fed money, then took it back
A public document filed by a company that just hired President Donald Trump’s two oldest sons as advisers included a sentence early Monday that said it hoped to benefit from grants and other incentives from the federal government, which their father happens to lead.
On August 5, 2025, the two older sons Donald Trump Jr. and Eric Trump filed for an IPO in the United States for a company called New America Acquisition I Corp. If the company's 30 million shares are found at the IPO at least at the nominal value of $10 each as planned, the proceeds will be $300 million. The Chairman of the Company's Board of Directors is Kevin McGurn. The Trump brothers own founder shares and are employed as "advisers". Accordi…
Trump Brothers Give Blank-Check Another Try In A $300M SPAC IPO
New America Acquisition I Corp. promises to “revitalize domestic manufacturing,” yet its biggest beneficiaries at launch will be its two highest-profile advisers: presidential sons Eric Trump and Donald Trump Jr. The Florida-incorporated SPAC filed on Monday to raise US$300 million on the NYSE at the standard US$10 a unit. The registration statement says the blank-check company will hunt for targets “that play a meaningful role in revitalizing d…
Logon Opalesque Alternative Market Briefing
Eric and Trump Jr-backed manufacturing SPAC files for $300m US IPO From Reuters: New America Acquisition I Corp, a blank-check firm backed by Eric Trump and Donald Trump Jr., filed on Monday for an initial public offering of up to $300 million in the United States. The move is the latest in a se... Article link
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