New America Acquisition I Corp. (NWAX)

New America Acquisition I Corp. (NWAX) is a special purpose acquisition company, or blank-check company, whose Class A common stock trades on the New York Stock Exchange. It was formed to raise capital in an initial public offering and then use those funds to complete a merger or other business combination with an operating company.

Prior to a transaction, the company has no operating business, and offering proceeds are held in a trust account. Public shareholders typically may redeem their shares for cash from the trust when a business combination is put to a vote or if no deal is completed within the allowed period.