New America Acquisition I Corp. Appoints Kyle Wool as Chairman and Adds Stefan Passantino as Independent Director

Rhea-AI Summary

New America Acquisition I Corp (NYSE:NWAX) appointed Kyle Wool as chairman and added Stefan Passantino as an independent director, effective February 6, 2026. The move emphasizes governance, regulatory oversight, and board continuity.

Wool brings 20+ years in capital markets, including roles at Dominari, Morgan Stanley and Oppenheimer. Passantino brings 30 years in compliance, election and lobbying law and recent roles advising transition teams and corporate clients. The company also updated its investment committee to include Wool, Steve Scopellite and Kevin McGurn.

Positive

• Appointed Kyle Wool as chairman with 20+ years capital markets experience
• Added an independent director with 30 years in compliance and regulatory law
• Updated investment committee to include Wool, Steve Scopellite, Kevin McGurn

Negative

• Director's high-profile political background may create public perception risk

News Market Reaction – NWAX

+0.60%

1 alert

+0.60% News Effect

On the day this news was published, NWAX gained 0.60%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

IPO trust funding: $345,000,000 IPO units: 34,500,000 units at $10.00 Private placement: $6,000,000 +5 more

8 metrics

IPO trust funding $345,000,000 Net proceeds from IPO and private placement deposited into trust account

IPO units 34,500,000 units at $10.00 Initial public offering, including 4,500,000 over-allotment units

Private placement $6,000,000 600,000 private placement units at $10.00 per unit

Warrant exercise price $11.50 per share Each whole redeemable warrant exercisable for one Class A share

Current share price $10.04 Pre-news price on 2026-02-06, about flat to SPAC issue price

Market capitalization $502,482,000 Equity value based on latest reported share price

Private units issued 600,000 units Non-transferable until initial business combination; no redemption rights

IPO over-allotment 4,500,000 units Additional units sold under underwriters’ over-allotment option

Market Reality Check

Price: $10.06 Vol: Volume 128,263 is 1.2x th...

normal vol

$10.06 Last Close

Volume Volume 128,263 is 1.2x the 20-day average of 106,797 shares. normal

Technical Shares at $10.04, trading below the 200-day MA of $10.12 and near the 52-week range floor.

Market Pulse Summary

This announcement highlights board changes at a SPAC that previously raised $345,000,000 into a trus...

Analysis

This announcement highlights board changes at a SPAC that previously raised $345,000,000 into a trust account at its IPO, with public units structured around a $10.00 issue price and warrants exercisable at $11.50. The addition of capital markets and regulatory expertise complements that structure. Investors typically focused on how such governance updates supported the eventual business combination, monitoring trust preservation, warrant terms, and the timeline provisions in the IPO structure.

Key Terms

redeemable warrant, over-allotment option, private placement, trust account, +3 more

7 terms

redeemable warrant financial

"one-half of one redeemable warrant, with each whole warrant exercisable at $11.50"

A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.

over-allotment option financial

"including 4,500,000 units sold under the underwriters’ over-allotment option"

An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.

private placement financial

"The company also completed a private placement of 600,000 private placement units"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

trust account financial

"A total of $345,000,000 of net proceeds ... was deposited into a trust account"

A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.

transfer agent financial

"brokers contact Odyssey Transfer and Trust Company, the transfer agent, to process"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

SuperPACs regulatory

"serving as counsel to some of the largest SuperPACs and 501(c)(4) advocacy groups"

Super PACs are independent political organizations that can raise and spend unlimited money to influence elections through ads and other communications, but they are legally barred from coordinating directly with candidates or parties. For investors, Super PAC spending matters because it can shape public policy, regulation and market sentiment—similar to how a powerful advertising campaign can change consumer behavior, a Super PAC can shift the political landscape in ways that affect company profits and risk.

501(c)(4) regulatory

"counsel to some of the largest SuperPACs and 501(c)(4) advocacy groups"

A 501(c)(4) is a U.S. tax classification for a nonprofit “social welfare” group that can operate without paying federal income tax while promoting community or public-policy goals; donations to it are generally not tax-deductible. Think of it like a neighborhood association that can lobby, run advocacy campaigns and spend on some political activity with fewer donor-disclosure rules than charities, which can create regulatory, reputational or policy risks for companies and influence markets and legislation investors watch.

AI-generated analysis. Not financial advice.

Board appointments strengthen governance, continuity and regulatory oversight

NEW YORK, NY / ACCESS Newswire / February 6, 2026 / New America Acquisition I Corp (NYSE:NWAXU)(NYSE:NWAX)(NYSE:NWAXW) today announced that Kyle Wool has been appointed chairman of the board of directors and that Stefan Passantino has joined the board as an independent director, effective immediately. Wool previously served on the Company's advisory board.

Kevin McGurn, Chief Executive Officer and Chairman of New America Acquisition I Corp., commented:

"Kyle's appointment as chairman reflects both continuity and confidence in his leadership. His familiarity with New America and deep experience in capital markets make him well-suited to guide the board as we move forward. Stefan's background in compliance, governance and regulatory matters further strengthens our oversight and supports our commitment to disciplined execution and strong corporate governance."

Kyle Wool brings more than two decades of experience across financial services and capital markets. He has served as president of Dominari Holdings Inc. (Nasdaq: DOMH) since December 2023 and chief executive officer of Dominari Securities LLC since May 2023. Earlier in his career, Wool was an executive director at Morgan Stanley, advising clients on investment strategy and capital allocation. He also held senior roles at Oppenheimer and Co., including serving as managing director of the Professional Investors Group for Oppenheimer Asia Ltd. Wool holds a degree from the State University of New York at Binghamton.

Stefan Passantino joins the board as an independent director. He began his career in law before serving as Deputy Assistant to the President and Deputy Counsel in the first Trump White House, where he led compliance and ethics programs. Over his 30-year career, he has advised corporations, political figures, and advocacy groups on state and federal election law, campaign finance, lobbying regulations, and congressional investigations.

Passantino has represented national political committees, federal candidates, and corporations, including serving as counsel to some of the largest SuperPACs and 501(c)(4) advocacy groups during the 2016 election cycle. He also co-chaired the Republican National Lawyers Association's Ballot Access Project, providing legal guidance to presidential campaigns. In addition to his political law work, he has been appointed Special Assistant to the Attorney General of Georgia, served as general counsel to corporate entities formed by former Speaker Newt Gingrich and former Senator Kelly Loeffler, and trained Members of Congress and corporate clients on ethics and lobbying compliance. Most recently, he worked with the 2025 Presidential transition and later onboarded Trump 47 executive branch officials.

Passantino earned a Bachelor of Arts in Political Science from Drew University and a Juris Doctor from Emory University School of Law, where he was Managing Editor of the Emory Law Journal. He is now a visiting professor at the University of Georgia and previously at the Georgia State University College of Law. His expertise in campaign and election law has been recognized by Washingtonian Magazine, which named him one of the "Best Legal Minds in Washington." In early 2025, he joined Miller Strategies as a Principal.

Committee Composition Update:

The Company also updated its board investment committee composition as follows:

• Kyle Wool

• Steve Scopellite

• Kevin McGurn

About New America Acquisition I Corp

New America Acquisition I Corp is a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The Company intends to target established U.S.-based companies that contribute to industrial capacity, technological innovation, and economic resilience, with a focus on automation, advanced manufacturing, infrastructure and energy systems. Learn more at https://newamericaacquisition.com/

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements are not historical facts and include statements regarding the Company's plans, objectives, expectations and intentions. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Many such risks and uncertainties are beyond the control of the Company, including those discussed in the Risk Factors section of the Company's registration statement for the initial public offering, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Investor/Press Contact:

Brian S. Siegel, IRC^®, M.B.A.
Senior Managing Director
Hayden IR - Chicago
(346) 396-8696 (o)
brian@haydenir.com

SOURCE: New America Acquisition I Corp.

View the original press release on ACCESS Newswire

FAQ

Who was named chairman of New America Acquisition I Corp (NWAX) on February 6, 2026?

Kyle Wool was named chairman effective February 6, 2026. According to the company, Wool has over 20 years of capital markets experience and leadership roles at Dominari, Morgan Stanley and Oppenheimer, signaling board continuity and market expertise.

What experience does new director Stefan Passantino bring to NWAX's board?

Stefan Passantino brings three decades of experience in compliance, election and lobbying law. According to the company, his background includes White House compliance roles, advising political committees and corporate counsel work, strengthening regulatory and governance oversight.

How did NWAX update its investment committee after the February 6, 2026 appointments?

The company named the investment committee members as Kyle Wool, Steve Scopellite and Kevin McGurn. According to the company, the update aligns committee leadership with the board appointments to support continuity in investment oversight.

Does the NWAX announcement affect the company's governance or oversight?

Yes. The appointments are positioned to strengthen governance and regulatory oversight. According to the company, Wool's capital markets experience and Passantino's compliance expertise aim to reinforce disciplined execution and board continuity.

Could Stefan Passantino's political background impact NWAX shareholders or reputation?

Potentially, as public perception may be affected by high-profile political ties. According to the company, Passantino's compliance and regulatory experience is intended to enhance governance, though political associations could draw external scrutiny.