Mon, Jun 9, 10:03 AM (15 days ago)
**New Providence Acquisition Corp. III (NPACU, NPAC, NPACW) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** No revenue generated as the company has not commenced operations. - **Profit Margins:** Reported a net loss of $60,685,000 due to general and administrative costs. - **Cash Flow:** Net cash used in operating activities was $29,067,000. Financing activities provided $29,067,000, primarily from a promissory note from a related party. - **Earnings Changes:** No earnings changes reported as the company has not generated revenue. **Quarterly Performance Discussion:** - The company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. - The company completed its Initial Public Offering (IPO) on April 25, 2025, raising $300,150,000 from the sale of 30,015,000 units, including the full exercise of the underwriters' over-allotment option. - Simultaneously, the company sold 872,075 private placement units, generating $8,720,750. - The company has not selected any specific business combination target and has not engaged in any substantive discussions with any target. **Trends & Uncertainties:** - The company faces uncertainties related to its ability to complete a business combination within the required timeframe. - Geopolitical tensions and market volatility could impact the company's search for a target business and the valuation of potential targets. - The company's financial condition and results of operations will depend on its ability to complete a business combination. **Future Operations Impact:** - The company will use the proceeds from the IPO and private placement to identify and evaluate target businesses, perform due diligence, and complete a business combination. - The company will not generate operating revenues until after the completion of its initial business combination. - The company may need to raise additional funds if its estimates of the costs of identifying a target business and completing a business combination are less than the actual amount necessary. **Ticker:** NPACU, NPAC, NPACW **Full Name:** New Providence Acquisition Corp. III **Exchange:** The Nasdaq Stock Market LLC **Note:** The company is a smaller reporting company and an emerging growth company, which provides certain exemptions from various reporting requirements. The company has elected not to opt out of the extended transition period for complying with new or revised financial accounting standards.