Trump's son-backed drone startup Powerus will go public through a merger today
2026-10-01 16:49:45
CoinMeta US stock news: According to IPONewsroom, American drone startup Powerus will complete its merger with golf course operator Aureus Greenway Holdings, which is listed on NASDAQ, on Thursday, and the transaction will be valued at $PUSA. Donald Trump Jr and Eric Trump indirectly hold shares in Aureus through an investment fund American Ventures; it is expected that they will own 9.9% of the shares in the merged company. A spokesperson stated that the brothers are passive investors and do not have any operational roles. Powerus was established a year ago, had sales of $1.2 million in the first quarter, and recently secured a contract from the US Air Force worth up to $90 million. Executives said that the company aims to introduce Ukrainian and other foreign drone technologies to the United States to meet the needs of the Pentagon, and in September, it signed a memorandum of understanding with the Pakistani Air Force.
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