Filings
545 filings found
| Date | Type | Summary | |
|---|---|---|---|
| 2021-02-04 | SC 13G/A | Millennium Management and affiliated entities reduced their beneficial ownership stake in New Providence Acquisition Corp. to 118,115 shares, representing 0.5% of the Class A Common Stock outstanding as of December 31, 2020, falling below the five percent threshold that triggers enhanced disclosure requirements. The ownership includes 39,200 shares of Class A Common Stock and 78,915 units, with each unit convertible into additional shares through warrant exercises upon completion of the company's initial business combination. | r/ASTS |
| 2021-01-27 | CORRESP | New Providence Acquisition Corp. responded to SEC staff comments on its preliminary proxy statement for a planned business combination with AST SpaceMobile, addressing disclosures about the combined company's controlled ownership structure, the Up-C structure giving founder Avellan majority voting control, and complex Class B and Class C share mechanics. The company revised financial projections to include material assumptions and clarified that AST has generated no revenues to date and does not expect SpaceMobile Service revenues until 2023, while also explaining the service will work with standard mobile phones without requiring device manufacturer agreements. Additionally, the company amended the AST operating agreement to establish an independent Redemption Election Committee to control how noncontrolling interests are settled, thereby classifying them as permanent rather than temporary equity. | r/ASTS |
| 2021-01-27 | PRER14A | New Providence Acquisition Corp. agreed to merge with AST & Science LLC, a satellite broadband company, in a deal that would create AST SpaceMobile, Inc. and result in NPA stockholders owning approximately 16% of the combined company while AST's existing equityholders would own 94%, with the transaction backed by $230 million in committed private investments and requiring NPA to maintain at least $250 million in cash and $5 million in tangible assets at closing. The merged company would operate as an umbrella partnership structure with AST holding substantially all operating assets, and would pursue a global direct mobile broadband network via low Earth orbit satellites accessible through standard smartphones, pending stockholder approval of seven proposals including the business combination, charter amendments, and incentive plans. | r/ASTS |
| 2021-01-26 | PRE 14A | New Providence Acquisition Corp. entered into an equity purchase agreement in December 2020 to merge with AST & Science LLC, a space communications company, but determined it lacked sufficient time to complete the transaction before its March 15, 2021 deadline. The company is seeking stockholder approval to extend the business combination deadline to June 15, 2021, with approximately $232 million held in trust and public shareholders entitled to redeem their shares at roughly $10.09 per share regardless of their vote. If the extension is not approved or the deal fails to close by the extended deadline, the company will liquidate and return the trust funds to public shareholders after winding down operations. | r/ASTS |
| 2021-01-25 | DEFA14A | New Providence Acquisition Corp. is seeking stockholder approval for a business combination with AST SpaceMobile, a satellite-based mobile wireless service provider that has secured major partnerships including a binding agreement with Vodafone covering 24 markets with a 50/50 revenue share arrangement, and a memorandum of understanding with AT&T to deploy 168 satellites across the continental United States, Hawaii, Puerto Rico, and Mexico. The filing outlines AST's strategy to provide satellite-based mobile coverage through these partnerships while noting significant risks and uncertainties surrounding completion of the business combination, regulatory approvals, and the company's ability to execute its satellite deployment and commercialization plans. | r/ASTS |
| 2021-01-19 | UPLOAD | Annual report to shareholders (PDF document). View the original document for full content. | r/ASTS |
| 2021-01-14 | DEFA14A | New Providence Acquisition Corp. is pursuing a business combination with AST SpaceMobile, a company developing space-based cellular networks to provide broadband connectivity to mobile phones without requiring special hardware or apps. AST has secured partnerships with major wireless providers covering approximately 1.3 billion subscribers globally, with plans to launch commercial service in Vodafone's regions by late 2022 or early 2023, addressing a market where approximately 4 billion people lack mobile broadband access. The company targets a $1 trillion global cellular market opportunity by operating under a revenue-sharing model with wireless providers, allowing seamless connectivity to existing phones in areas currently experiencing coverage gaps. | r/ASTS |
| 2020-12-23 | PREM14A | New Providence Acquisition Corp., a blank-check company, agreed on December 15, 2020 to merge with AST & Science LLC in a transaction that would create AST SpaceMobile, Inc., with the combined entity raising approximately $462 million in gross proceeds including a $230 million private investment commitment from institutional investors. Following the merger, existing AST shareholders would retain roughly 94% of voting power while current NPA stockholders would hold approximately 6%, with the company developing a satellite-based cellular broadband network designed to provide mobile connectivity to standard smartphones worldwide. The transaction required multiple stockholder approvals including authorization of new share classes with enhanced voting rights for certain founders, regulatory compliance with Nasdaq listing standards, and establishment of a tax receivable agreement under which SpaceMobile would pay 85% of future tax savings to existing shareholders. | r/ASTS |
| 2020-12-22 | SC 13G | EJF Capital and related entities acquired beneficial ownership of approximately 3.1 million shares of New Providence Acquisition Corp. Class A Common Stock, representing roughly 13.4% of the outstanding shares as of December 16, 2020. The filing indicates these shares were acquired through two debt opportunity funds controlled by Emanuel J. Friedman, with the entities disclaiming any intent to change or influence control of the issuer. | r/ASTS |
| 2020-12-16 | DEFA14A | On December 15, 2020, New Providence Acquisition Corp. announced a definitive merger agreement with AST & Science LLC, a satellite communications company, with the combined entity to be renamed AST SpaceMobile Inc. and listed on Nasdaq. The transaction includes $230 million in committed private investment at $10 per share, and requires a minimum of $250 million in total cash at closing, with the sponsor forfeiting shares if combined proceeds fall below $400 million. The deal is structured as an umbrella partnership C-corporation with Abel Avellan retaining significant control through supervoting shares, and includes a tax receivable agreement requiring the company to pay 85% of certain tax savings to existing equity holders. | r/ASTS |
| 2020-12-16 | 8-K | New Providence Acquisition Corp. announced a definitive agreement on December 15, 2020 to merge with AST & Science LLC, a satellite communications company, with the combined entity to be renamed AST SpaceMobile Inc. and trade on Nasdaq. The transaction includes $230 million in committed private investments at $10 per share and requires a minimum of $250 million in total cash at closing, with the deal expected to close by March 15, 2021 or an extended deadline of 90 days after the six-month anniversary of the agreement. Key equity holders including Vodafone, Rakuten, and American Tower will retain significant board representation and voting rights through a multi-class share structure in the post-merger company. | r/ASTS |
| 2020-12-16 | DEFA14A | New Providence Acquisition Corp. announced a proposed merger with AST SpaceMobile, a satellite communications company developing space-based cellular broadband accessible directly from standard smartphones, to create a $1.4 billion pro forma enterprise value company trading as ASTS on NASDAQ. The $400 million transaction, funded by $232 million in trust cash and committed PIPE investments from strategic partners including Vodafone, Rakuten, and American Tower, is designed to finance Phase 1 deployment of 20 satellites covering equatorial regions and achieve cash flow positivity by 2023. AST's patented technology aims to provide global broadband connectivity to approximately 5 billion mobile phones and an estimated 4 billion people currently lacking broadband access, with an expected 373 million subscribers by 2027 and projected EBITDA margins exceeding 90 percent through a 50/50 revenue-sharing wholesale model with telecom partners. | r/ASTS |
| 2020-11-13 | 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. | r/ASTS |
| 2020-08-13 | 10-Q | New Providence Acquisition Corp., a blank check company formed in May 2019, raised $230 million in gross proceeds through an initial public offering of 23 million units in September 2019 and concurrent private warrant sales, with all funds placed in a trust account invested in U.S. Treasury bills. As of June 30, 2020, the company had $232.1 million in trust account securities and $399,260 in operating cash, having not yet identified or completed a business combination target and facing a March 31, 2021 deadline to consummate one or return funds to public shareholders. The company reported net income of $795,275 for the first half of 2020 driven by $1.3 million in interest earned on trust account investments, offset by $339,188 in operating costs and taxes, while incurring substantial doubt about going concern due to limited liquidity outside the trust account. | r/ASTS |
| 2020-05-14 | 10-Q | New Providence Acquisition Corp., a blank check company, completed an initial public offering in September 2019 raising $230 million in gross proceeds (including an over-allotment exercise) plus an additional $6.1 million from private warrant sales, with all IPO proceeds deposited into a trust account for future business combinations. For the three months ended March 31, 2020, the company generated $847,252 in net income primarily from $886,099 in interest earned on trust account securities and a $371,628 unrealized gain, offset by $185,257 in operating costs and $225,218 in tax provisions. The company had 18 months from September 2019 to complete a business combination meeting specific criteria, with $519,627 in working capital available outside the trust account as of quarter-end. | r/ASTS |
| 2020-03-30 | 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. | r/ASTS |
| 2020-02-14 | SC 13G/A | RP Investment Advisors LP and RP Select Opportunities Master Fund Ltd. jointly reported beneficial ownership of 1,325,000 shares of Class A common stock in New Providence Acquisition Corp. (a blank check company that would later merge with AST SpaceMobile), representing 5.8% of the outstanding shares as of December 31, 2019. The reporting entities also held 362,500 warrants exercisable after the completion of an initial business combination, with anti-dilution provisions limiting ownership to 4.9% or 9.8% depending on the holder's election. | r/ASTS |
| 2020-02-14 | SC 13G | Karpus Investment Management, a New York-based investment adviser, disclosed beneficial ownership of 1,321,850 shares (5.8% of the class) of New Providence Acquisition Corp as of December 31, 2019. The shares are held across multiple accounts managed by Karpus, each holding less than 5% individually, with the firm having sole voting and dispositive power over all shares and no intent to influence control of the issuer. | r/ASTS |
| 2020-02-13 | SC 13G | New Providence Management LLC, along with directors Alexander Coleman and Gary P. Smith, disclosed beneficial ownership of 5.71 million shares of Class B Common Stock in New Providence Acquisition Corp., representing 19.9% of outstanding shares as of December 31, 2019. The Class B shares are convertible into Class A shares on a one-for-one basis at the time of the company's initial business combination or earlier at the holder's option. | r/ASTS |
| 2020-02-13 | SC 13G | UBS O'Connor LLC, acting as investment manager for two hedge funds, reported beneficial ownership of 2,277,000 shares of New Providence Acquisition Corp. Class A common stock as of December 31, 2019, representing approximately 9.9% of the outstanding shares. The filing certifies that the shares were acquired in the ordinary course of business without intent to change or influence control of the issuer. | r/ASTS |
| 2020-01-14 | SC 13G/A | Millennium Management and related entities, including founder Israel A. Englander, filed an amended Schedule 13G on January 13, 2020, disclosing beneficial ownership of 1,324,961 shares of Class A common stock in New Providence Acquisition Corp., representing 5.8% of outstanding shares as of December 31, 2019. The filing certifies that the securities were not acquired for the purpose of influencing control of the issuer and were held through a group structure with shared voting and dispositive power. | r/ASTS |
| 2019-11-08 | 10-Q | New Providence Acquisition Corp., a blank-check company, completed its initial public offering on September 13, 2019, raising $230 million in gross proceeds through the sale of 23 million units at $10 per unit plus 6.1 million private placement warrants, with all proceeds deposited into a trust account to be used for identifying and completing a business combination within 21 months. The company is in early-stage formation with no operating revenues, minimal operating costs of approximately $95,700 through September 30, 2019, and generated net income of $86,668 primarily from interest earned on trust account holdings of $230.2 million invested in short-term U.S. Treasury securities. | r/ASTS |
| 2019-10-30 | 8-K | New Providence Acquisition Corp. announced on October 30, 2019 that unit holders can elect to separately trade the Class A common stock and warrants included in their units beginning November 1, 2019. Each unit consists of one share of Class A common stock and one-half warrant, with separated securities trading under symbols NPA and NPAWW respectively on Nasdaq, while unseparated units continue trading as NPAUU. | r/ASTS |
| 2019-09-20 | SC 13G | Millennium Management and affiliated entities, controlled by Israel Englander, disclosed a 5.8% beneficial ownership stake in New Providence Acquisition Corp. as of September 19, 2019, holding 1,325,000 shares of Class A common stock through Integrated Core Strategies (US) LLC. The filing confirms shared voting and dispositive power over the securities and certifies the stake was not acquired to change or influence control of the issuer. | r/ASTS |
| 2019-09-19 | 8-K | New Providence Acquisition Corp. completed its initial public offering on September 13, 2019, raising $200 million from the sale of 20 million units at $10 per unit, plus an additional $30 million from the underwriters' exercise of their over-allotment option on September 19, 2019, bringing total proceeds to $230 million held in trust for a future business combination. The company is a special purpose acquisition vehicle with 18 months to complete an initial business combination, after which public stockholders can redeem their shares if no deal is reached. | r/ASTS |