Powerus Corporation, a drone manufacturer co-founded by former U.S. Army Special Operations veterans and backed by Eric Trump and Donald Trump Jr. through American Ventures, announced a reverse merger with Aureus Greenway Holdings — a Florida company operating two golf courses (Kissimmee Bay Country Club and Remington Golf Club). The combined entity will trade on Nasdaq under ticker "PUSA," expected to close summer 2026.
The reverse merger structure mirrors Xtend's simultaneous listing strategy (merging with JFB Construction Holdings, a Florida building firm). Both transactions use shell companies to achieve Nasdaq listings while avoiding the transparency requirements, financial scrutiny, and disclosure obligations of traditional IPOs. Both transactions also involved Dominari Securities, whose advisory board includes Eric Trump and Donald Trump Jr. since February 2025 — meaning the Trump sons' investment bank advised on transactions involving the Trump sons' portfolio companies.
KCGI Investment
South Korean institutional investor KCGI (Korea Climate and Governance Improvement Fund) committed $50 million to purchase Powerus common stock by April 2026. CFIUS review status for this foreign investment in a U.S. defense company connected to the president's family remains unconfirmed.
Transparency Concerns
As Riggleman noted: "When a Trump-family-backed defense contractor chooses to enter public markets through a golf course rather than a traditional IPO, the appropriate question is: why?" The answer is transparency avoidance. Reverse mergers bypass the SEC registration process, investment bank due diligence, and roadshow disclosures that would expose the full extent of government contract dependencies and family conflict-of-interest architecture.
Powerus builds autonomous drone platforms for military and commercial use and positions itself to benefit from the Pentagon's Drone Dominance initiative ($1.1 billion to procure hundreds of thousands of U.S.-made drones by 2027). The company is simultaneously a customer and supplier of Unusual Machines (Trump Jr.'s advisory board company), creating circular revenue flows within the Trump family drone portfolio.