New Providence Acquisition II in an 8-K disclosed it has signed a non-redemption agreement with “severa; investors who have collectively agreed to hold onto 4.6 million shares ahead of the SPAC's upcoming deadline extension vote.
New Providence II wants to push its deadline from May 9 to May 2024.
In return for their agreement, the non-redeeming investors would receive 1.38 million shares.
New Providence II raised $225 million in a November 2021 ipo to target companies in the consumer sector. Read more.
Source: New Providence Acquisition II Secures Non-Fedemption Agreement Ahead of Extension Vote