DEFA14A

0001213900-21-017891 — Filed 2021-03-26

Form type: DEFA14A

Filing date: 2021-03-26

Accepted: 2021-03-26 13:28 UTC

Description: CURRENT REPORT

Document: ea138455-8k_newprovidence.htm

Format: html

Size: 33.1 KB

Download status: downloaded

AI Summary

New Providence Acquisition Corp. filed supplemental disclosures to its proxy statement regarding its proposed business combination with AST & Science LLC to create AST SpaceMobile, Inc., following three shareholder lawsuits and demand letters alleging incomplete disclosures. The company clarified ownership structure post-closing, noting existing AST equityholders would hold 94% voting power with $230 million in PIPE investment and no stockholder redemptions, while current NPA shareholders would hold 6% voting power. NPA denied the legal claims were meritorious but made the supplemental disclosures voluntarily to avoid litigation costs and delays, with the special stockholder meeting scheduled for April 1, 2021.

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