Profile
Sector:
Financial ServicesIndustry:
Shell CompaniesCountry:
United StatesIPO:
30 December 2021Website:
http://newprovidencecorp.comNext earnings report:
20 November 2024Last dividends:
N/ANext dividends:
N/APrice
regular market | Mon, 18 Nov 2024 14:30:00 GMTDividend
Analysts recommendations
Institutional Ownership
NPAB Latest News
New York, New York, Nov. 08, 2024 (GLOBE NEWSWIRE) -- New Providence Acquisition Corp. II (Nasdaq: NPAB) (the “Company”) announced today that its board of directors (the “Board”) has determined that the Company will (i) abandon and not implement the proposal to extend the date by which the Company must consummate an initial business combination from November 9, 2024 to November 9, 2025, which proposal was approved by the Company's stockholders at the special meeting of stockholders held on November 1, 2024, (ii) cease all operations except for the purpose of winding up as soon as practicable, (iii) as promptly as reasonably possible redeem the shares of its Class A common stock (the “Public Shares”) that were included in the units issued in the Company's initial public offering (the “IPO”) at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account established in connection with the IPO (the “Trust Account”) including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of outstanding Public Shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law (the “Redemption”), and (iv) as promptly as reasonably possible following the Redemption, subject to the approval of the Company's remaining stockholders and the Board, liquidate the funds held in the Trust Account (the “Liquidation”) and dissolve the Company (the “Dissolution”), subject in each case to its obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company's warrants, which will expire worthless. New Providence Acquisition II LLC, the Company's sponsor, has agreed to waive its redemption rights with respect to the shares of the Company's Class B common stock issued prior to the IPO, including shares of the Company's Class A common stock issued upon conversion of such Class B common stock.
What type of business is New Providence Acquisition?
New Providence Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the consumer industry. The company was incorporated in 2020 and is based in Austin, Texas.
What sector is New Providence Acquisition in?
New Providence Acquisition is in the Financial Services sector
What industry is New Providence Acquisition in?
New Providence Acquisition is in the Shell Companies industry
What country is New Providence Acquisition from?
New Providence Acquisition is headquartered in United States
When did New Providence Acquisition go public?
New Providence Acquisition initial public offering (IPO) was on 30 December 2021
What is New Providence Acquisition website?
https://newprovidencecorp.com/spac-ii
Is New Providence Acquisition in the S&P 500?
No, New Providence Acquisition is not included in the S&P 500 index
Is New Providence Acquisition in the NASDAQ 100?
No, New Providence Acquisition is not included in the NASDAQ 100 index
Is New Providence Acquisition in the Dow Jones?
No, New Providence Acquisition is not included in the Dow Jones index
When was New Providence Acquisition the previous earnings report?
No data
When does New Providence Acquisition earnings report?
The next expected earnings date for New Providence Acquisition is 20 November 2024