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NMP Acquisition Corp. (NASDAQ:NMPAU, NASDAQ:NMP, NASDAQ:NMPAR) announced the completion of its initial public offering and a concurrent private placement, according to a press release statement filed with the Securities and Exchange Commission.
On July 2, the company completed its IPO of 10,000,000 units at $10.00 per unit, generating gross proceeds of $100,000,000. Each unit consists of one Class A ordinary share and one right, with each right entitling the holder to receive one-fifth of one Class A ordinary share upon the completion of the company’s initial business combination.
Simultaneously with the IPO closing, NMP Acquisition Corp. completed a private placement of 170,000 units at $10.00 per unit to its sponsor, Next (LON:NXT) Move Capital LLC, and certain third-party investors and individuals affiliated with Maxim Group LLC. The private placement generated an additional $1,700,000 in gross proceeds. Each private unit also consists of one Class A ordinary share and one right, with similar terms as the public units.
A total of $100,000,000, or $10.00 per unit, from the offering proceeds has been placed in a trust account for the benefit of public shareholders and the underwriters, with Continental Stock Transfer & Trust Company acting as trustee.
The company’s units, Class A ordinary shares, and rights are listed on the Nasdaq Stock Market LLC under the symbols NMPAU, NMP, and NMPAR, respectively.
An audited balance sheet as of July 2, reflecting receipt of the offering proceeds, was included as an exhibit to the SEC filing.
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