New Providence Acquisition Corp. Reminds All Stockholders to Vote to Approve Charter Extension
New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU, NPAWW) is urging shareholders to vote in favor of the Charter Extension Proposal to delay the AST Business Combination deadline from March 15 to June 15, 2021. A minimum of 65% approval from shareholders is required. Stockholders who held shares on January 28, 2021, should have received proxy materials and are encouraged to vote promptly. The company emphasizes the importance of every vote and provides contact information for voting assistance. The definitive proxy statement is available at the SEC's website.
- Extending the business combination deadline allows more time to secure shareholder approval.
- The merger with AST SpaceMobile could lead to significant advancements in mobile connectivity.
- The need for a deadline extension may indicate challenges in securing shareholder support.
- Failure to complete the business combination could lead to potential loss of investment for shareholders.
New Providence Acquisition Corp. (“New Providence”) (NASDAQ: NPA, NPAUU and NPAWW) encourages every stockholder to vote their shares in favor of the proposal (the “Charter Extension Proposal”) to extend the date by which the Company has to complete the business combination with AST & Science, LLC (the “AST Business Combination”) and vote their shares FOR all proposals in advance of the Annual Meeting scheduled to be held virtually on March 12, 2021.
Every vote counts, and we ask that you cast your vote today regardless of your share amount. The Charter Extension Proposal requires approval by the affirmative vote of the holders of at least
Stockholders that owned the shares on January 28, 2021 (the “Record Date”) should have already received proxy materials. New Providence strongly recommends that stockholders complete and return their proxy card, voting FOR all proposals, as soon as possible to ensure that all shares are represented at the Annual Meeting. The fastest and easiest way to vote is over the Internet or by phone with your control number provided by your broker.
Stockholders who owned shares as of the Record Date that did not receive, or misplaced, proxy materials should contact their broker and request their voting control number. If stockholders have questions related to voting their shares, they may contact their broker or New Providence’s proxy solicitor Morrow Sodali LLC at NPA.info@investor.morrowsodali.com or call toll free for questions or to vote at (877) 787-9239.
NPA stockholders can follow this link to view the Annual Meeting and Charter Extension document: https://www.cstproxy.com/npa-corp/sm2021/proxy/images/New_Providence_Acquisition_Corp-Proxy2021.pdf
About New Providence Acquisition Corp.
New Providence Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. In September 2019, New Providence Acquisition Corp. consummated a
About AST SpaceMobile
AST SpaceMobile is building the first, and only, space-based cellular broadband network to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio. AST SpaceMobile’s team of engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. Follow AST SpaceMobile on Twitter @AST_SpaceMobile and LinkedIn.
Additional Information
NPA has filed a definitive proxy statement with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its annual meeting of stockholders, and has mailed the definitive proxy statement and other relevant documents to its stockholders. This communication does not contain all the information that should be considered concerning the items to be presented at the annual meeting, including the proposal to extend the date by which the Company has to complete the business combination with AST & Science, LLC from March 15, 2021 to June 15, 2021. NPA’s stockholders and other interested persons are advised to read the definitive proxy statement in connection with NPA’s solicitation of proxies for the annual meeting to be held to approve, among other matters, the Charter Extension Proposal as these materials will contain important information about NPA and the proposal. The definitive proxy statement was mailed to the stockholders of NPA as of the record date established for voting at the annual meeting. Such stockholders will also be able to obtain copies of the proxy statement, without charge, at the SEC’s website at http://www.sec.gov.
Participants in the Solicitation
NPA, New Providence Acquisition Management LLC and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of NPA’s stockholders in connection with the annual meeting. Investors and security holders may obtain more detailed information regarding the names and interests in the Charter Extension Proposal of NPA’s directors and officers in NPA’s filings with the SEC, including NPA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 1, 2021, and such information and names of AST’s directors and executive officers will also be in the proxy statement of NPA for the AST Business Combination. Stockholders can obtain copies of NPA’s filings with the SEC, without charge, at the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction pursuant to the Charter Extension Proposal or otherwise, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Forward-Looking Statements
This communication includes “forward-looking statements” that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical fact contained in this communication including, without limitation, statements regarding NPA’s financial position, business strategy and the plans and objectives of management for future operations; anticipated financial impacts of the AST Business Combination; the satisfaction of the closing conditions to the AST Business Combination; and the timing of the completion of the AST Business Combination, are forward-looking statements. Words such as “expect,” “believe,” “anticipate,” “intend,” “estimate,” “seek” and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management’s current beliefs, based on information currently available.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside NPA’s and AST’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Equity Purchase Agreement or could otherwise cause the AST Business Combination to fail to close; (ii) the outcome of any legal proceedings that may be instituted against NPA and AST following the execution of the Equity Purchase Agreement and the AST Business Combination; (iii) any inability to complete the AST Business Combination, including due to failure to obtain approval of the stockholders of NPA or other conditions to closing in the Equity Purchase Agreement; (iv) the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the AST Business Combination; (v) the inability to maintain the listing of the shares of common stock of the post-acquisition company on The Nasdaq Stock Market following the AST Business Combination; (vi) the risk that the AST Business Combination disrupts current plans and operations as a result of the announcement and consummation of the AST Business Combination; (vii) the ability to recognize the anticipated benefits of the AST Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (viii) costs related to the AST Business Combination; (ix) changes in applicable laws or regulations; (x) the possibility that AST or the combined company may be adversely affected by other economic, business, and/or competitive factors; and (xi) other risks and uncertainties indicated in the proxy statement, including those under the section entitled “Risk Factors”, and in NPA’s other filings with the SEC.
NPA cautions that the foregoing list of factors is not exclusive. NPA cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of NPA’s Annual Report on Form 10-K filed with the SEC. NPA’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, NPA disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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FAQ
What is the Charter Extension Proposal for New Providence Acquisition Corp.?
Why is New Providence Acquisition Corp. delaying the business combination with AST?
When is the Annual Meeting for New Providence Acquisition Corp. stockholders?
What percentage of shareholder votes is required for the Charter Extension Proposal to pass?
How can New Providence Acquisition Corp. shareholders vote on the proposals?
