Quarterly Report (10-Q)

New Providence Acquisition Corp is a blank check company that raised $230 million in its September 2019 initial public offering, with funds held in a trust account invested in U.S. Treasury securities, and is searching for a business combination target with a deadline of March 31, 2021. As of September 30, 2020, the company had generated $1.43 million in interest income from the trust account and reported net income of $740,226 for the nine-month period, while maintaining $357,013 in operating cash and $232.1 million in trust assets. The company has not yet completed a business combination and will liquidate and return funds to shareholders if it cannot complete one by its deadline, though it may use working capital loans from sponsors to fund transaction costs.