New Providence Acquisition Corp. II Faces Delisting from The Nasdaq Stock Market

New Providence Acquisition Corp. II (NASDAQ:NPABU) recently received a notification from The Nasdaq Stock Market regarding the delisting of its securities. As of November 4, 2024, the Listing Qualifications Department of Nasdaq informed the company that its Class A common stock, warrants, and units would be delisted. They stated that trading of these securities would be suspended starting November 11, 2024, followed by the filing of a Form 25-NSE with the Securities and Exchange Commission to remove the securities from listing and registration on Nasdaq.

This decision came in light of Nasdaq Listing Rule IM-5101-2, which requires special purpose acquisition companies to complete one or more business combinations within 36 months of their initial public offering registration statement’s effectiveness. As New Providence Acquisition Corp. II failed to meet this requirement by the November 4 deadline, Nasdaq determined that the company did not comply with Rule IM-5101-2, warranting the delisting of its securities.

Additionally, on November 1, 2024, the company held a special meeting of its stockholders to vote on extending the deadline for an initial business combination. Shareholders approved the proposal to extend the deadline up to twelve times, with the final vote affirming the Third Extension Amendment Proposal.

The approval of the amendment required a majority vote from the company’s outstanding shares of common stock as of September 19, 2024. The results showed that the Third Extension Amendment Proposal received 6,865,927 votes in favor, with 4,952 votes against and no abstentions or broker non-votes.

Due to the approved extension of the deadline, New Providence Acquisition Corp. II will now have until November 9, 2025, to consummate an initial business combination. The company filed the necessary financial statements and exhibits alongside this information with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read New Providence Acquisition Corp. II’s 8K filing here.

About New Providence Acquisition Corp. II

New Providence Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the consumer industry. The company was incorporated in 2020 and is based in Austin, Texas.