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Consumer SPAC New Providence Acquisition prices $200 million IPO at $10

September 11, 2019

New Providence Acquisition, a blank check company led by former soda executives targeting the consumer sector, raised $200 million by offering 20 million units at $10, as expected. Each unit consists of one share of common stock and one-half of one warrant exercisable at $11.50 per share. 

New Providence Acquisition plans to list on the Nasdaq under the symbol NPAUU. BTIG acted as a lead manager on the deal.