Trump Sons' New America SPAC Rallies 4.7% In $300 Million Debut

New America Acquisition I Corp., a blank-check company backed by Eric Trump and Donald Trump Jr., raised $300 million in its initial public offering, pricing shares at $10 each.

The company’s stock rose roughly as much as 4.7% in its debut on Thursday, Dec. 4, reflecting investor optimism for SPACs after years of volatility and defying a recent selloff of assets linked to the first family of the United States.

The firm plans to target mergers that revitalize domestic manufacturing, expand innovation ecosystems, and strengthen critical supply chains, according to a regulatory filing.

Dominari Securities LLC and D. Boral Capital LLC are co-book-running managers for the offering. Each unit includes one Class A share and half a warrant, with each full warrant allowing the purchase of one share at $11.50. Shares and warrants will trade on the NYSE under the symbols "NWAX" and "NWAXW."

See also: Trump Sons Back $300 Million SPAC Aimed At ‘Revitalizing’ US Manufacturing, Boosting Critical Supply Chains

SPACs Bounce Back

Special purpose acquisition companies, or SPACs, which surged during the pandemic before collapsing for many investors, are experiencing renewed interest, reversing the post-COVID slump caused by higher interest rates, regulatory scrutiny, and skepticism following numerous failed deals.

Lower borrowing costs after the Federal Reserve’s second rate cut of 2025 and growing interest in "America First" sectors, including cryptocurrency, nuclear technology, and quantum computing, have also fueled the revival. As of mid-November, 194 SPACs had formed — more than the combined total of the previous three years, according to Global Finance Magazine (GFM).

Still, SPACs remain high-risk investments. Over 60% of those launched in 2020–21 failed to complete mergers, and many traded below their IPO price, according to GFM. Even Donald Trump‘s former SPAC, Trump Media, experienced dramatic swings, peaking near $80 before dropping back to around $10.

New America's IPO underscores both the potential upside and ongoing uncertainty in the sector, even under a Trump-era resurgence.

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