Shares of Aureus Greenway Holdings (NASDAQ:AGH) surged 55% after The Wall Street Journal reported that the company plans to merge with drone manufacturer Powerus, which is supported by investments tied to President Trump’s sons.
According to the report, Eric Trump and Donald Trump Jr. are backing Powerus through their investment firm American Ventures. The transaction is structured as a reverse merger that would allow Powerus to become publicly traded on the Nasdaq in the coming months.
Powerus, a drone maker based in West Palm Beach, Florida, was established last year and has already acquired three companies over the past six months. The firm produces both aerial and maritime drones and says it aims to scale manufacturing capacity to more than 10,000 drones per month — a level that would exceed the output of most U.S. drone producers.
Investors involved in the deal include American Ventures, Unusual Machines — where Donald Trump Jr. is both a shareholder and advisory board member — and the Korea Corporate Governance Improvement Fund, which has committed $50 million. Dominari Securities, an investment bank backed by the Trump brothers, is also participating in the transaction.
The merger comes as the Pentagon advances its Drone Dominance initiative, a program targeting $1.1 billion in spending to acquire hundreds of thousands of U.S.-made drone systems by 2027. At the same time, the Trump administration has prohibited new Chinese drone imports into the United States, opening the door for domestic manufacturers to expand.
Powerus CEO Andrew Fox said the reverse merger would give the company access to public capital markets, helping finance expanded production and future acquisitions.
Aureus Greenway Holdings currently operates as a holding company focused on golf course assets in Florida.