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PALM BEACH, FL - New Providence Acquisition Corp. III (Nasdaq: NPACU) announced Wednesday that holders of units from its initial public offering will be able to separately trade the company’s Class A ordinary shares and warrants starting June 16, 2025. The SPAC’s units currently trade at $10.40, near their 52-week high of $10.41, according to InvestingPro data.
The Class A ordinary shares and warrants will trade on the Nasdaq Global Market under the symbols "NPAC" and "NPACW" respectively, while unseparated units will continue trading under "NPACU," according to a company press release.
Only whole warrants will be tradable, with no fractional warrants to be issued upon separation of the units.
New Providence Acquisition Corp. III is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands. The company aims to effect a business combination in the consumer industry, though it may pursue opportunities in other sectors.
The announcement comes as part of the standard post-IPO process for SPACs, where investors initially purchase units consisting of shares and warrants that can later be split and traded separately.
The company noted in its statement that this announcement does not constitute an offer to sell securities or solicitation of an offer to buy securities in any jurisdiction where such actions would be unlawful without proper registration or qualification under securities laws.
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