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New Providence Acquisition Corp. III is a Cayman Islands SPAC formed to complete a Business Combination, currently pursuing a merger with Abra Financial Holdings under the Abra Business Combination Agreement. It raised $300,150,000 in its IPO and a further $8,720,750 via private placement units.
As of June 30, 2026, total assets were $315.7 million, including $315.5 million of marketable securities in a Trust Account, valued at $10.51 per Public Share for 30,015,000 Class A shares subject to redemption. Cash outside the trust was $63,822, with a working capital deficit of $1.17 million and advances from a related party of $200,000.
For the six months ended June 30, 2026, the company reported net income of $3.61 million, driven by $5.49 million of interest on trust investments, offset by $1.89 million of general and administrative costs. Management discloses that limited liquidity and the April 25, 2027 deadline to complete a Business Combination raise substantial doubt about its ability to continue as a going concern.
AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC report beneficial ownership of 1,409,778 Class A Ordinary Shares of New Providence Acquisition Corp. III/Cayman, representing 4.56% of the class.
The AQR entities report no sole voting or dispositive power over these shares and instead hold shared voting and shared dispositive power over 1,409,778 shares each. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC is deemed controlled by AQR Capital Management, LLC. The filing states ownership of 5 percent or less of the class.
New Providence Acquisition Corp. III entered into unsecured promissory notes totaling $1,500,000 with its co-Chief Executive Officers to fund working capital. Each CEO received a note with aggregate principal of up to $750,000.
The notes bear no interest and mature upon the earlier of the company’s initial business combination or its liquidation. At each lender’s option, outstanding amounts may convert into units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-third of a warrant, and each whole warrant exercisable at $11.50 per share. Before issuance of the notes, the sponsor had advanced an additional $200,000, payable on demand.
New Providence Acquisition Corp. III, a SPAC, reported total assets of $313,253,239 as of March 31, 2026, almost entirely in a Trust Account holding $312,721,919 (about $10.42 per redeemable share). Operating cash outside the trust was $324,608 with a working capital deficit of $639,908, and Management disclosed substantial doubt about the company’s ability to continue as a going concern if no deal or additional funding is secured.
For the quarter, the company generated net income of $1,371,432, driven by $2,725,776 of interest on trust investments, offset by $1,354,344 of general and administrative costs. The SPAC has until April 25, 2027 to complete a business combination or redeem public shares.
On March 16, 2026, NPAC signed a Business Combination Agreement with Abra Financial Holdings, Inc. valuing Abra at $750,000,000 in stock consideration, with Abra to become a wholly owned subsidiary after NPAC’s domestication to Delaware and the closing of the Merger.
New Providence Acquisition Corp. III filed its annual report as a blank check company focused on completing a Business Combination, highlighted by a proposed merger with Abra valued at $750,000,000 based on a share exchange formula. The SPAC completed its IPO in April 2025, selling 30,015,000 units at $10.00 each and a concurrent private placement of 872,075 units, placing $301,650,750 into a trust account. As of December 31, 2025, the pro rata redemption price was approximately $10.33 per public share. The Abra deal includes domestication to Delaware, Abra becoming a wholly owned subsidiary, rollover of Abra options, a target of at least $150,000,000 in additional Transaction Financing, and a closing condition requiring at least $40,000,000 of net cash proceeds after redemptions and expenses.
New Providence Acquisition Corp. III entered into a Business Combination Agreement to merge with Abra Financial Holdings, Inc., valuing Abra at a $750,000,000 pre-money equity value payable in newly issued SPAC common stock. SPAC will domesticate from the Cayman Islands to Delaware, then merge its subsidiary into Abra, making Abra a wholly owned subsidiary and renaming the public company Abra Financial, Inc.
Abra shareholders will roll 100% of their equity and receive shares based on an exchange ratio tied to fully diluted Abra shares and the SPAC redemption price. Closing conditions include shareholder approvals, an effective Form S-4, Nasdaq listing, required regulatory consents and at least $40,000,000 in net cash from the trust plus any Transaction Financing. The parties are targeting at least $150,000,000 of additional financing and have signed support, lock-up, sponsor support and non-compete agreements to align insiders and major holders.
Healthcare of Ontario Pension Plan Trust Fund filed an amended Schedule 13G reporting its beneficial ownership in New Providence Acquisition Corp. III.
The fund reports owning 690,000 Class A ordinary shares, equal to 2.2% of the class, based on 30,887,075 Class A shares outstanding as of November 14, 2025. It has sole voting and dispositive power over these shares.
The pension plan certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
MMCAP International Inc. SPC and Asset Management Inc. report a passive ownership stake in New Providence Acquisition Corp. III. They beneficially own 2,200,000 Class A ordinary shares, equal to 7.1% of the class, with shared voting and dispositive power over all reported shares as of 12/31/2025.
The reporting persons certify the shares were not acquired and are not held to change or influence control of the company, but instead qualify for passive reporting on Schedule 13G/A (Amendment No. 2). Two directors, Ulla Vestergaard and Hillel Meltz, signed the statement, and a joint filing agreement is included as an exhibit.
New Providence Acquisition Corp. III (NPACW) filed a Form 10-Q for the quarter ended June 30, 2025 describing its SPAC formation, financing and balance sheet position. The company completed a $300.15 million initial public offering on April 25, 2025 (30,015,000 Public Units at $10.00 each, including full exercise of the 3,915,000 over-allotment Option) and a $8.72 million private placement of 872,075 units. Net proceeds of $301,650,750 were placed in a Trust Account invested in U.S. Treasury-backed money-market instruments. The per-Public-Share redemption value was $10.12 as of June 30, 2025. Cash on hand outside the trust was $1,086,556. Underwriting fees of $5.22 million were paid at closing and a Deferred Underwriting Fee of $12,789,000 is payable upon completion of a Business Combination. The company has 7,503,750 Founder (Class B) shares outstanding and 10,295,692 warrants outstanding (10,005,000 Public Warrants and 290,692 Private Placement Warrants). The registrant has not identified a Business Combination target and retains the Combination Period through April 25, 2027.
MMCAP International Inc. SPC and MM Asset Management Inc. report beneficial ownership of 2,200,000 Class A ordinary shares of New Providence Acquisition Corp. III (CUSIP G6476A102), representing 7.12% of the class based on 23,600,000 shares outstanding as reported by the issuer. Both filers disclose shared voting and shared dispositive power and report no sole voting or dispositive power.
The filing states the securities were not acquired to change or influence control and discloses no group formation, parent/subsidiary acquisition, or other arrangements in this statement.