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New Providence Acquisition Corp. II (Nasdaq: NPABU) has announced the commencement of separate trading for its shares of Class A common stock and warrants starting December 27, 2021. This follows the completion of their initial public offering of 25 million units, which included 2.5 million units from the underwriter's over-allotment option on November 9, 2021. The units will continue trading under the symbol NPABU, while the separated shares and warrants will trade under NPAB and NPABW, respectively. Deutsche Bank acted as the sole underwriter for the offering.
New Providence Acquisition Corp. II (NPABU) has successfully closed its upsized public offering of 25,000,000 units, including 2,500,000 units from the underwriter's over-allotment option. Trading began on November 5, 2021. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant, with warrants exercisable at $11.50 per share. The management team, led by consumer sector veterans, seeks targets valued between $700 million and $1 billion. NPA aims to leverage its resources and public equity for accelerated growth and enhanced shareholder returns.
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