Trump's sons invest in drone firm amid pentagon's growing drone spending

Donald Trump Jr. and Eric Trump are backing a drone company called Powerus in its bid to go public, a move that comes as the Pentagon ramps up its spending on unmanned aerial vehicles.

Powerus plans merger with golf course operator aureus greenway holdings

In a deal supported by the Trump brothers, Powerus will merge with Aureus Greenway Holdings, a golf course operator listed on the Nasdaq, the companies announced on Monday.

The merger agreement, which has already been reported by the Wall Street Journal, was advised by boutique investment bank Dominari Holdings, which has previously worked on drone and cryptocurrency deals. The Korean Climate and Governance Fund is investing $50 million in the transaction.

Powerus co-founder Brett Velicovich, a veteran of US special operations, told an interviewer that going public would help the company seek new acquisitions and expand its business portfolio, which includes Kaizen Aerospace, Tandem Defense, and Agile Autonomy.