New Providence Acquisition III said Wednesday that it priced its initial public offering of 26.1 million units, each of which consists of one Class A ordinary share and one-third of a redeemable warrant.
The units are expected to be listed on the Nasdaq Global Stock Market and start trading on Thursday under the ticker symbol "NPACU."
The company also granted underwriters a 45-day option to buy up to an additional about 3.9 million units to cover possible over-allotments. The offering is expected to close on Friday.
The company said $10.05 per unit will be deposited into a trust account upon closing of the offering.
Once the securities start trading separately, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "NPAC" and "NPACW," respectively.
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