New Providence Acquisition II priced its upsized IPO of 22.5 million units, an increase of 2.25 million units more than expected when the SPAC registered in February.
Starting today, units will trade on the Nasdaq under NPABU. Each consists of a share and one-third of a warrant.
The SPAC will target a business in the consumer industry.
After the securities begin separate trading, shares and warrants will list under NPAB and NPABW.
Deutsche Bank is sole book-running manager and underwriter for the offering. Deutsche Bank may opt to purchase up to an additional 3.375 million units to cover over-allotments, if any.
The offering is expected to close Nov. 9. Read more.
