Recent developments include leadership transitions with new appointments to CEO, CFO, and COO roles, reflecting changes in senior management that may impact the company's business combination efforts.

• On August 5, 2026, Kevin McGurn resigned as CEO and director; Kyle Wool was appointed CEO (N2).
• On August 26, 2026, George O’Leary resigned as CFO; Tim S. Ledwick was appointed CFO and Christopher Devall as COO (N1).
• Kyle Wool was appointed Chairman and Stefan Passantino added as Independent Director on February 6, 2026 (N3).

The company benefits from a seasoned leadership team with recent SPAC experience and strong industry connections, which may enhance its ability to source and close a high-quality initial business combination. Its focus on U.S.-based companies aligned with revitalizing domestic manufacturing and innovation ecosystems aligns with broader economic priorities. The trust account funding provides a substantial capital base for acquisitions.

The company faces substantial risks including a working capital deficit, leadership transitions that may disrupt business combination efforts, and potential conflicts of interest due to officers' affiliations with Dominari Holdings. There is substantial doubt about its ability to continue as a going concern if it fails to complete an initial business combination by the deadline. Failure to identify or close a suitable target could lead to liquidation and loss of shareholder value.

As a blank check company, New America Acquisition I Corp.'s competitive strength lies in its experienced management team and advisory board with extensive networks in SPAC advisory, investment banking, and industry relationships. This network facilitates access to proprietary deal flow and strategic partners, positioning the company as a credible merger partner. However, as a SPAC without operating history or revenues, its moat depends on successful identification and execution of an initial business combination.

• Leadership Transitions: Recent changes in senior management, including CEO and CFO resignations, may disrupt the search for and completion of an initial business combination and require time for new officers to become familiar with the business.
• Conflicts of Interest: Officers' concurrent roles with Dominari Holdings Inc. and its affiliates may create conflicts in determining whether to pursue or on what terms to complete a business combination.
• Going Concern Uncertainty: The company has a working capital deficit and limited cash outside the trust account, raising substantial doubt about its ability to continue as a going concern if it does not complete a business combination by the deadline.
• Time Constraints: The company must complete its initial business combination by June 5, 2027 (or December 5, 2027 if a definitive agreement is executed), with no current approved plan to extend this deadline, or face mandatory liquidation.

• New America Acquisition I Corp. is a blank check company incorporated on May 28, 2025, formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses (S1).
• The company has not commenced operations nor generated revenues to date; all activity relates to formation, IPO, and search for initial business combination (S1).
• IPO closed on December 5, 2025, raising $345 million placed in a trust account to be used for the initial business combination (S1).
• The company intends to focus on acquiring businesses primarily operating in the United States that contribute to revitalizing domestic manufacturing, innovation ecosystems, and critical supply chains, but may consider other targets (S1).
• The management team and advisory board have extensive experience in SPAC transactions, mergers and acquisitions, and capital markets, leveraging broad networks to source deal flow (S1).
• The company has until June 5, 2027 (or December 5, 2027 if a definitive agreement is executed by June 5, 2027) to complete an initial business combination, with possible extensions subject to stockholder approval (S1, S2).
• Recent leadership changes include resignation of CEO Kevin McGurn on August 5, 2026, and CFO George O’Leary on August 26, 2026; Kyle Wool appointed CEO and Chairman, Tim S. Ledwick as CFO, and Christopher Devall as COO (N1, N2, S2).
• The new officers also hold positions with Dominari Holdings Inc., which may create conflicts of interest in pursuing and negotiating the initial business combination (S2).
• As of September 30, 2026, the company had current assets of $909,505 and current liabilities of $3,524,433, resulting in a current ratio of 0.26, indicating a working capital deficit (S2).
• Net income for the period ending September 30, 2026, was $2,003,006 (S2).
• There is substantial doubt about the company’s ability to continue as a going concern due to working capital deficit and mandatory liquidation risk if the initial business combination is not completed by the deadline (S2).
• The company pays $20,000 per month under an administrative services agreement with Dominari Holdings until the earlier of the initial business combination or liquidation (S2).