Annual Report (10-K)

New Providence Acquisition Corp. was a blank-check company that completed its initial public offering in September 2019, raising approximately $223 million in trust account proceeds to identify and acquire a target business, primarily in the consumer sector. As of December 31, 2019, the company had not yet completed an initial business combination and remained a shell entity with no operations, led by a management team with extensive private equity and consumer industry experience including executives who previously worked at PepsiCo, Red Bull, and Big Red. The company had 18 months from its IPO closing to consummate a business combination or face liquidation and return of capital to public shareholders at approximately $10 per share.