New Providence Acquisition, a blank check company targeting the consumer industry, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Austin, TX-based company plans to raise $200 million by offering 20 million units at a price of $10. At $10, New Providence Acquisition Corp would command a market value of $250 million. Each unit consists of one share of common stock and one-half of a one warrant to purchase a share of common stock at $11.50 per share.
New Providence Acquisition was founded in 2019 and plans to list on the Nasdaq under the symbol NPAU. BTIG is the sole bookrunner on the deal.
