Trump Family’s Defense Investments Grow With New Drone Deal (1)

President Donald Trump’s eldest sons are investing in a new drone company, expanding their defense portfolio at a moment when the Pentagon is ramping up its own spending on unmanned aircraft systems.

Powerus, a West Palm Beach, Florida-based business, said Monday that it will go public in a deal backed by Donald Trump Jr. and Eric Trump. The company plans to combine with a Nasdaq-listed golf course operator, Aureus Greenway Holdings Inc., according to a statement.

Donald Trump Jr., left, Eric Trump.

Photographer: Bloomberg/Bloomberg

Shares of Aureus Greenway jumped as much as 24% in New York on Monday, and were up 12% to $5.47 ...