New Providence Acquisition Corp. III Launches $261M IPO
Deal News | Apr 23, 2025 | EIN
New Providence Acquisition Corp. III has announced the pricing of its $261 million initial public offering, which consists of 26.1 million units listed on Nasdaq under the symbol NPACU. The units include one Class A ordinary share and one-third of a redeemable warrant. The offering is set to close on April 25, 2025, with Cantor Fitzgerald & Co. as the sole book-running manager. New Providence, a blank check company, aims to acquire businesses in the consumer sector but is not limited to this industry. The management team includes Co-CEOs Gary Smith and Alexander Coleman. Forward-looking statements in the announcement highlight the uncertainty of the IPO's success.
Sectors
- Finance
- Consumer Goods
Geography
- United States – The article discusses an IPO and operations based in the United States, specifically with connections to Nasdaq and the SEC.
Industry
- Finance – This sector includes activities related to financial services, like initial public offerings, which is the focus of the article.
- Consumer Goods – New Providence Acquisition Corp. III intends to focus its acquisition strategy within the consumer industry.
Financials
- $261,000,000 – The total amount of the initial public offering.
- $10.05 per unit – The amount per unit to be deposited into a trust account upon closing.
- $11.50 per share – The price at which each warrant entitles the holder to purchase one Class A ordinary share.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| New Providence Acquisition Corp. III | Target | Company | A blank check company conducting a $261 million IPO. |
| Cantor Fitzgerald & Co. | Sole Book-running Manager | Company | An investment bank acting as the sole book-running manager for the IPO. |
| Gary Smith | Co-Chief Executive Officer | Person | Co-CEO and Co-Chairman of New Providence Acquisition Corp. III. |
| Alexander Coleman | Co-Chief Executive Officer | Person | Co-CEO and Co-Chairman of New Providence Acquisition Corp. III. |
| Leo Valentine | Chief Financial Officer | Person | Chief Financial Officer of New Providence Acquisition Corp. III. |