New Providence Acquisition Corp. III Announces the Pricing of $261,000,000 Initial Public Offering
New Providence Acquisition Corp. III has announced the pricing of its $261 million initial public offering, consisting of 26,100,000 units. Each unit, priced at $10.05, includes one Class A ordinary share and one-third of one redeemable warrant. The units will trade on Nasdaq under 'NPACU' starting April 24, 2025.
The company is a blank check company targeting acquisitions in the consumer industry. The warrants allow holders to purchase shares at $11.50 each. The Class A shares and warrants will eventually trade separately under 'NPAC' and 'NPACW'. The IPO includes a 45-day option for underwriters to purchase up to 3,915,000 additional units.
The management team is led by co-CEOs Gary Smith and Alexander Coleman, with Leo Valentine as CFO. Cantor Fitzgerald & Co. serves as the sole book-running manager for the offering, expected to close on April 25, 2024.
New Providence Acquisition Corp. III ha annunciato il prezzo della sua offerta pubblica iniziale da 261 milioni di dollari, composta da 26.100.000 unità. Ogni unità, quotata a 10,05 dollari, include un'azione ordinaria di Classe A e un terzo di un warrant rimborsabile. Le unità saranno quotate al Nasdaq con il simbolo 'NPACU' a partire dal 24 aprile 2025.
L'azienda è una società veicolo che punta ad acquisizioni nel settore consumer. I warrant consentono ai possessori di acquistare azioni a 11,50 dollari ciascuna. Le azioni di Classe A e i warrant saranno successivamente quotati separatamente con i simboli 'NPAC' e 'NPACW'. L'IPO prevede un'opzione di 45 giorni per gli underwriter di acquistare fino a 3.915.000 unità aggiuntive.
Il team di gestione è guidato dai co-amministratori delegati Gary Smith e Alexander Coleman, con Leo Valentine come CFO. Cantor Fitzgerald & Co. è il gestore unico dell'offerta, che dovrebbe concludersi il 25 aprile 2024.
New Providence Acquisition Corp. III ha anunciado el precio de su oferta pública inicial de 261 millones de dólares, que consta de 26,100,000 unidades. Cada unidad, con un precio de 10.05 dólares, incluye una acción ordinaria Clase A y un tercio de un warrant redimible. Las unidades se cotizarán en Nasdaq bajo el símbolo 'NPACU' a partir del 24 de abril de 2025.
La compañía es una empresa de cheque en blanco que busca adquisiciones en la industria de consumo. Los warrants permiten a los tenedores comprar acciones a 11.50 dólares cada una. Las acciones Clase A y los warrants se negociarán por separado bajo los símbolos 'NPAC' y 'NPACW'. La oferta pública inicial incluye una opción de 45 días para que los suscriptores compren hasta 3,915,000 unidades adicionales.
El equipo directivo está liderado por los co-CEOs Gary Smith y Alexander Coleman, con Leo Valentine como CFO. Cantor Fitzgerald & Co. actúa como único administrador del libro para la oferta, que se espera cierre el 25 de abril de 2024.
New Providence Acquisition Corp. III는 2억 6,100만 달러 규모의 기업공개(IPO) 가격을 발표했습니다. 총 26,100,000 단위로 구성되어 있으며, 각 단위는 10.05달러에 책정되었습니다. 각 단위에는 클래스 A 보통주 1주와 상환 가능한 워런트 1/3주가 포함되어 있습니다. 이 단위들은 2025년 4월 24일부터 나스닥에서 'NPACU'라는 티커로 거래됩니다.
이 회사는 소비재 산업 내 인수를 목표로 하는 블랭크 체크 컴퍼니입니다. 워런트 보유자는 주당 11.50달러에 주식을 구매할 수 있습니다. 클래스 A 주식과 워런트는 추후 'NPAC'와 'NPACW'로 별도 거래될 예정입니다. IPO에는 인수인들이 최대 3,915,000 단위를 추가로 구매할 수 있는 45일 옵션이 포함되어 있습니다.
경영진은 공동 CEO Gary Smith와 Alexander Coleman이 이끌고 있으며, CFO는 Leo Valentine입니다. Cantor Fitzgerald & Co.가 단독 주관사로서 이번 공모를 담당하며, 2024년 4월 25일 마감될 예정입니다.
New Providence Acquisition Corp. III a annoncé le prix de son offre publique initiale de 261 millions de dollars, composée de 26 100 000 unités. Chaque unité, au prix de 10,05 dollars, comprend une action ordinaire de classe A et un tiers d’un bon de souscription remboursable. Les unités seront cotées au Nasdaq sous le symbole 'NPACU' à partir du 24 avril 2025.
La société est une société à chèque en blanc visant des acquisitions dans le secteur de la consommation. Les bons de souscription permettent à leurs détenteurs d’acheter des actions à 11,50 dollars chacune. Les actions de classe A et les bons seront ensuite négociés séparément sous les symboles 'NPAC' et 'NPACW'. L’introduction en bourse comprend une option de 45 jours pour que les souscripteurs puissent acheter jusqu’à 3 915 000 unités supplémentaires.
L’équipe de direction est menée par les co-PDG Gary Smith et Alexander Coleman, avec Leo Valentine comme directeur financier. Cantor Fitzgerald & Co. agit en tant que gestionnaire unique de l’offre, qui devrait se clôturer le 25 avril 2024.
New Providence Acquisition Corp. III hat die Preisfestsetzung seines 261 Millionen US-Dollar umfassenden Börsengangs bekannt gegeben, bestehend aus 26.100.000 Einheiten. Jede Einheit, zum Preis von 10,05 US-Dollar, beinhaltet eine Stammaktie der Klasse A und ein Drittel eines rückzahlbaren Optionsscheins. Die Einheiten werden ab dem 24. April 2025 unter dem Tickersymbol 'NPACU' an der Nasdaq gehandelt.
Das Unternehmen ist eine Blankoscheckgesellschaft, die Übernahmen im Konsumgüterbereich anstrebt. Die Optionsscheine ermöglichen es den Inhabern, Aktien zu je 11,50 US-Dollar zu erwerben. Die Klasse A Aktien und die Optionsscheine werden später separat unter den Symbolen 'NPAC' und 'NPACW' gehandelt. Das IPO beinhaltet eine 45-tägige Option für die Underwriter, bis zu 3.915.000 zusätzliche Einheiten zu kaufen.
Das Managementteam wird von den Co-CEOs Gary Smith und Alexander Coleman geleitet, mit Leo Valentine als CFO. Cantor Fitzgerald & Co. fungiert als alleiniger Bookrunner für das Angebot, das voraussichtlich am 25. April 2024 abgeschlossen wird.
- Large IPO size of $261 million provides substantial acquisition capital
- Trust value of $10.05 per unit offers investor protection
- Listing on major exchange (Nasdaq) provides liquidity
- Experienced management team with industry veterans
- Flexibility in acquisition targets across consumer industry
- No specific acquisition target identified yet
- Warrant dilution potential at $11.50 exercise price
- to only whole warrant trading
- Time constraints to complete business combination
Insights
New Providence Acquisition Corp. III launches $261M SPAC IPO with typical structure, targeting future consumer industry acquisition.
New Providence Acquisition Corp. III has successfully priced its $261,000,000 initial public offering, consisting of 26,100,000 units expected to begin trading on Nasdaq on April 24 under ticker symbol "NPACU." This SPAC (Special Purpose Acquisition Company) offering follows a standard structure with some notable details.
Each unit is priced at $10 and contains one Class A ordinary share plus one-third of a redeemable warrant. The warrant structure allows holders to purchase shares at $11.50 once exercisable. The company will place $10.05 per unit into a trust account, which represents the capital held until a business combination is completed.
The SPAC's management includes co-CEOs Gary Smith and Alexander Coleman, with Leo Valentine serving as CFO. While primarily targeting the consumer industry for acquisition opportunities, the company maintains flexibility to pursue businesses in other sectors.
For investors familiar with SPACs, the structure contains standard elements: Cantor Fitzgerald serving as book-runner, a 45-day overallotment option for underwriters (for an additional 3,915,000 units), and plans for the components to eventually trade separately under "NPAC" and "NPACW" symbols.
The $10.05 trust value provides a slight premium over the typical $10 baseline seen in many SPACs, while the one-third warrant per unit represents a conventional allocation ratio. The offering is scheduled to close on April 25, pending customary conditions.
Palm Beach, FL, April 23, 2025 (GLOBE NEWSWIRE) -- New Providence Acquisition Corp. III (the “Company”) announced today the pricing of its initial public offering of 26,100,000 units. The units are expected to be listed on The Nasdaq Global Stock Market LLC (“Nasdaq”) and begin trading tomorrow, April 24, 2025, under the ticker symbol “NPACU.” Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company seeks to acquire and operate a business in the consumer industry however it may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution.
The Company’s management team is led by Gary Smith and Alexander Coleman, each a Co-Chief Executive Officer and Co-Chairman of the Board of Directors (the “Board”), and Leo Valentine, its Chief Financial Officer. The Board also includes Rick Mazer, Daniel Ginsberg, Timothy Gannon, and Greg Stevens.
Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022, or by email at prospectus@cantor.com.
A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on April 23, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.
Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contacts
New Providence Acquisition Corp. III
Leo Valentine
leo.valentine@npa-corp.com
929-249-8832
FAQ
What is the total value of New Providence Acquisition Corp. III's IPO and when will NPAC start trading?
How are the NPAC units structured and what is the warrant exercise price?
What is the trust account amount per unit for NPAC's IPO?
What is the over-allotment option for NPAC's IPO underwriters?
What industry sector is NPAC targeting for acquisition?
