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New Providence Acquisition Corp. III has successfully completed its initial public offering (IPO), raising $300,150,000 through the sale of 30,015,000 units at $10.00 per unit. The offering included 3,915,000 units from the full exercise of the underwriters' over-allotment option.
Trading began on April 24, 2025, on Nasdaq under symbol 'NPACU'. Each unit comprises one Class A ordinary share and one-third of one redeemable warrant, with whole warrants exercisable at $11.50 per share. The securities will later trade separately under 'NPAC' and 'NPACW'.
Of the total proceeds, including those from a private placement, $301,650,750 ($10.05 per unit) was placed in trust. The blank check company aims to pursue business combinations in the consumer industry, led by Co-CEOs Gary Smith and Alexander Coleman.
