Core Viewpoint - New Providence Acquisition Corp. II has decided to abandon its proposal to extend the deadline for completing a business combination and will proceed with winding up operations and redeeming shares [1] Group 1: Company Actions - The Company will cease all operations except for winding up as soon as practicable [1] - The Company plans to redeem its Class A common stock at a price equal to the amount in the Trust Account, minus certain expenses, which will extinguish public stockholders' rights [1] - Following the redemption, the Company will liquidate the Trust Account funds and dissolve, subject to legal obligations [1] Group 2: Financial Details - The estimated redemption price for the outstanding Public Shares is approximately $10.89 per share after accounting for dissolution expenses [2] - The proceeds from the Trust Account will be held in a trust operating account while awaiting disbursement to Public Shareholders [2] - Record holders of Public Shares must deliver their shares to receive their pro rata portion of the proceeds, while beneficial owners in "street name" will not need to take action [2] Group 3: Company Background - New Providence Acquisition Corp. II is a blank check company incorporated in Delaware, aimed at effecting a business combination with one or more businesses [3]
New Providence Acquisition Corp. II Announces Intention to Liquidate