Link for the OP
Trump Sons Back New Drone Company Targeting Pentagon Sales
Eric Trump and Donald Trump Jr., the president’s sons, are backing a new drone company that is vying to meet fresh demand from the Pentagon and fill a hole left by the administration’s ban on new Chinese drones in the U.S.
Powerus, a drone roll-up company based in West Palm Beach, Fla., is merging with a publicly traded golf-course holding company backed by the Trumps, Powerus executives said. The reverse merger will result in Powerus, which was formed last year, trading on the Nasdaq stock exchange in the coming months.
Investors in the deal include one of the Trumps’ investment vehicles, American Ventures, and
Unusual Machines UMAC 14.24%increase; green up pointing triangle, a drone components company where Donald Trump Jr. is a shareholder and advisory board member, the company said. Powerus is also a customer of Unusual Machines.
The Trump brothers-backed investment bank
Dominari Securities DOMH 3.74%increase; green up pointing triangle, which has been involved
in the family’s crypto deals, is also involved in the transaction, the company said. Separately, asset manager the Korea Corporate Governance Improvement Fund has invested $50 million.