424B4

0001213900-19-017878 — Filed 2019-09-12

Form type: 424B4

Filing date: 2019-09-12

Accepted: 2019-09-12 21:00 UTC

Description: PROSPECTUS

Document: f424b4091119_newprovidence.htm

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AI Summary

New Providence Acquisition Corp raised $200 million through an initial public offering of 20 million units at $10 per unit, with each unit containing one share of Class A common stock and one-half of a redeemable warrant exercisable at $11.50 per share. The blank check company, led by executives with extensive consumer sector experience from PepsiCo, Red Bull, and Big Red, has 18 months to identify and complete a business combination with a target company in the consumer industry, with at least 80% of trust account assets required to fund the acquisition. Public shareholders can redeem their shares at the trust account value per share upon completion of the business combination, while the sponsor committed to purchasing 5.5 million private placement warrants at $1 per warrant to be held in trust alongside the offering proceeds.

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