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New Providence Acquisition Corp. II (NPABU) Prices Upsized $225M IPO


New Providence Acquisition Corp. II (NPABU) Prices Upsized $225M IPO

New Providence Acquisition Corp. II announced the pricing of its upsized $225 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NPABU” Friday, November 5.

The new SPAC intends to combine with a business in the consumer industry that has strong drivers of revenue and exhibits barriers to competition. New Providence II is led by Chairman Alexander Coleman, CEO Gary P. Smith, and CFO James Bradley.

Total SPAC deal count for 2021 year-to-date is now 527. This offering is expected to close on Tuesday, November 9.

Deutsche Bank Securities Inc. is acting as the sole book running manager and sole underwriter for the offering.  Kirkland & Ellis LLP is serving as Issuer’s Counsel with Sidley Austin LLP serving as Underwriter’s Counsel.  Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.