New America Acquisition I Corp, a blank-check firm backed by Eric Trump and Donald Trump Jr., filed for an IPO of up to $300 million in the US. The Trump brothers have been involved in various ventures, including a meme coin and a crypto company. They will serve on the advisory board for New America.

The brothers have announced new business ventures, serving as paid advisors and expanding investments in various industries. They will receive five million shares in New America. Kyle Wool, CEO of Dominari Securities underwriting the offering, is also on the board. The Trump brothers are major shareholders in Dominari Holdings.

New America aims to buy businesses with an enterprise value of $700 million or more, focusing on revitalizing domestic manufacturing and strengthening supply chains. The target companies will be based in the US and engaged in industries like aerospace and critical minerals. Trump’s policies have focused on protectionist trade measures.

SPACs like New America use IPO proceeds to merge with private companies, taking them public without traditional listing regulations. New America plans to offer 30 million units in its IPO at $10 each, with hopes to list on the NYSE. The company’s goal is to support industries vital to US economic growth.

Read more at Yahoo Finance: Eric and Trump Jr-backed manufacturing SPAC files for $300 million US IPO