DRS

New Providence Acquisition Corp., a blank-check SPAC, raised $125 million in its June 2019 initial public offering of 12.5 million units at $10 each, with each unit containing one Class A share and half a warrant exercisable at $11.50. The company has 24 months to identify and complete a merger with an unspecified target business in the consumer sector, leveraging management's experience in private equity and beverage operations, with $125 million held in trust and subject to redemption if no deal closes within the timeframe.