New Providence Acquisition II announced that it entered into a non-binding letter of intent for a potential business combination with a company in the consumer sector.
The SPAC had scheduled a meeting today for shareholders to vote on an extension proposal that would push its deadline to Nov. 9. However, late this morning New Providence II issued a press release saying the meeting has now been postponed to Thursday, which is the SPAC’s termination date. As a result, the new redemption deadline is 5 p.m. today.
New Providence II originally raised $225 million in a November 2021 IPO to target companies in the consumer sector. Read more.
