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New Providence Acquisition Corp. II - NPAB

  • Commons

    $9.90

    +0.00%

    NPAB Vol: 0.0

  • Warrants

    $0.12

    +0.00%

    NPABW Vol: 0.0

  • Units

    $10.05

    +0.00%

    NPABU Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 246.8M
Average Volume: 39.0K
52W Range: $9.55 - $10.74
Weekly %: -0.40%
Monthly %: -0.30%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 239
Unit composition:
Each unit has an offering price of $10.00 and consists of one share of our Class A common stock and one-third of one redeemable warrant
Trust Size: 20000000.0M

Management

Our officers, directors and director nominees are as follows: Name Age Position Alexander Coleman 54 Chairman Gary P. Smith 58 Chief Executive Officer and Director James Bradley 48 Chief Financial Officer Rick Mazer 75 Director Nominee Dan Ginsberg 68 Director Nominee Tim Gannon 72 Director Nominee Terry Wilson 58 Director Nominee Greg Stevens 49 Director Nominee Alexander Coleman has served as our Chairman since November 2020. Alexander Coleman has 20 years of institutional private equity experience, focused predominantly on U.S. based middle market companies operating in the food and beverage, information, satellite communications, and business services and specialized manufacturing markets. Mr. Coleman was most recently chairman of NPA I and will serve as chairman of NPA III. Mr. Coleman is the founder and Managing Partner of Annex Capital Management LLC, a U.S. based private equity group founded in 2004. Annex Capital focuses on making control investments in middle market companies in a broad array of industries, and also acquires distressed debt and direct equity in the secondary market. Concurrently with Annex, Mr. Coleman was a co-Head and Managing Partner of Citicorp Venture Capital, Citi’s New York based leveraged buyout fund. Mr. Coleman was also a Managing Partner of Sea Hunter, a specialized fund focused on the evolving global cannabis market and a predecessor to Tilt Holdings. Prior to these positions, from 1996 through to 2004, Mr. Coleman was a Managing Investment Partner and co-Head of Dresdner Kleinwort Capital LLC, Dresdner Bank’s North American merchant banking group. While at Dresdner, Mr. Coleman oversaw the bank’s U.S. based private equity businesses, which included control and minority equity investing, mezzanine, distressed senior debt and, for a period of time, a fund-of-funds program. From 1989 to 1995, Mr. Coleman worked with several groups while at Citi, including the Media Group, the Restructuring Group and Citicorp Venture Capital. Mr. Coleman received an MBA from the University of Cambridge and a BA in Economics from the University of Vermont. Mr. Coleman has served as a Director and Chairman of the Board for numerous private and public companies, including Remy Inc., StackTeck Systems Ltd., Maxcess International, TeleCorp PCS, Hypercube (f/k/a KMC Telecom), Mrs. Field’s Famous Brands Inc., Gardenburger Inc., NurseFinders Inc., Waddington International, Inc. and JAC Products, Inc. We believe Mr. Coleman’s deep consumer industry background, coupled with broad operational and transactional experience, make him well qualified to serve as a director. Gary P. Smith has served as our Chief Executive Officer and as a director since November 2020. Gary P. Smith has held senior management positions at PepsiCo, Red Bull, Big Red, Inc. and NPA I. Mr. Smith was most recently CEO of NPA I and will serve as CEO of NPA III. During his most recent position as CEO of Big Red, Mr. Smith built a diversified beverage company by acquiring numerous, complementary brands across many segments of the market over a 10-year period, ultimately selling the business to Keurig Dr Pepper. Mr. Smith also led the buy side acquisition and integration of All Sport, Nesbitt’s, NuGrape, Thomas Kemper, HyDrive Energy Water and XYIENCE Energy Drink. Prior to Big Red, Mr. Smith joined Red Bull as the executive vice president of a three person board of directors each operating as the co-CEO. Mr. Smith held direct responsibility for sales, trade marketing, motorsports marketing, finance, information systems, legal department, supply chain, operations and human resources. Mr. Smith continued to serve as the senior board member and corporate secretary from 2000 to 2007 while leading all day to day efforts as the Chief Operating Officer. Before taking over the leadership role at Red Bull, Mr. Smith enjoyed a successful career with PepsiCo, Inc. from 1986 to 2000. Mr. Smith began his career in Dallas with PepsiCo Food Systems where he held positions with increasing responsibility that led up to his role as division president. In his last role with PepsiCo, Mr. Smith led the West Florida Bottling Operations for Pepsi Bottling Group. Mr. Smith holds an M.B.A. degree with a concentration in finance from The University of Dallas. Mr. Smith also holds a Bachelor of Business Administration degree in finance from Mississippi State University. 110 We believe Mr. Smith’s deep consumer industry background, coupled with broad operational and transactional experience, make him well qualified to serve as a director. James Bradley has served as our Chief Financial Officer since November 2020. James Bradley has over 25 years of finance and accounting experience at Arthur Andersen, KPMG, Big Red Group and NPA I. Mr. Bradley was most recently CFO of NPA I and will serve as CFO of NPA III. Mr. Bradley has extensive experience working with companies in the consumer, energy, healthcare, and manufacturing industries. Mr. Bradley spent nearly 10 years as CFO of Big Red until it was acquired by Keurig Dr Pepper in 2018. While at Big Red, Mr. Bradley was instrumental in the sales transaction, four recapitalizations and three acquisitions. Mr. Bradley transformed Big Red’s financial, accounting, tax and back office functions as the business grew from a simple family run business with a single brand to a sponsor backed, diversified beverage company. Prior to joining Big Red, Mr. Bradley spent nearly 10 years in KPMG’s Transaction Services practice leading buy-side and sell-side transactions ranging in size from a few million to several-billion dollars in North America and Europe. Prior to KPMG, Mr. Bradley spent four years in investment banking in Arthur Andersen’s Corporate Finance practice. Mr. Bradley earned a Bachelor’s of Business Administration in Finance from the University of Texas in Austin, graduating with honors. Mr. Bradley is a Chartered Financial Analyst. Rick Mazer has agreed to serve on our board of directors. Mr. Mazer served on the Board of the Culinary Institute of America from 2007 to 2019 retiring as Chairman. Mr. Mazer has also been a member of the boards of Food for All, Gardenburger, Thrifty Foods of Burlington, and Hospital Cost Consultants and Accountants, Inc. Mr. Mazer previously served as President and Chief Executive Officer of Ventura Foods from 1997 to 2010, where he played a key role in growing the company’s sales from $500 million to more than $2 billion annually. Prior to joining Ventura Foods, Mr. Mazer was a consultant to producers, manufacturers, retailers, and grocery and convenience store wholesalers. Mr. Mazer also previously held management positions at Deloitte and Touche, Kidder, Peabody & Co. and Boston Consulting Group. Mr. Mazer received degrees in Economics and Industrial Management from the Massachusetts Institute of Technology. We believe that Mr. Mazer’s extensive executive and deep consumer industry background make him well qualified to serve as a director. Daniel Ginsberg has agreed to serve on our board of directors. Mr. Ginsberg served on the Board of Potbelly Corporation from 2014-2020, the last 2 as Chairman. Mr. Ginsberg previously served as Chief Executive Officer of Dermalogica from 2011 to 2014, and has a comprehensive background in branding strategy, marketing, and advertising. Prior to these positions, Mr. Ginsberg served as Chief Executive Officer of Red Bull North America until 2008. Before taking over the leadership role at Red Bull, Mr. Ginsberg was an advertising and marketing executive who held executive positions at agencies such as NW Ayer, Cunningham & Walsh and dGWB. Mr. Ginsberg also served as Chief Marketing Officer at Hardee’s. Mr. Ginsberg received an MA in Communications and Marketing from Boston University. We believe that Mr. Ginsberg’s extensive executive and marketing expertise make him well qualified to serve as a director. Timothy Gannon has agreed to serve on our board of directors. Mr. Gannon is a Co-Founder of Outback Steakhouse, where he was a senior executive responsible for food and menu oversight through its public offering in 2012. In 2006, Mr. Gannon co-founded OSI Restaurant Partners, an operator of Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Roy’s Restaurant and Fleming’s Prime Steakhouse & Wine Bar units. Prior to co-founding Outback Steakhouse, Mr. Gannon spent 14 years at other restaurant groups including Steak & Ale and Copeland’s Cajun Café. In 1994, Mr. Gannon was named Entrepreneur of the Year by Inc. magazine. Other honors include the Florida Restaurant Association’s Lifetime Achievement Award, an honorary Doctorate in Business Administration and Food Service Management from Johnson & Wales University, and induction into both the U.S. Business Hall of Fame and the Tampa Bay Chamber of Commerce Business Hall of Fame. Mr. Gannon received a BA in Art History from Florida State University. We believe that Mr. Gannon’s entrepreneurial experience and deep consumer industry background make him well qualified to serve as a director. Terry Wilson has agreed to serve on the board of directors. Mr. Wilson has 35 years of U.S. and Asia-Pacific supply chain experience; majority in high volume food distribution and high-tech hardware logistics & transportation. Prior to joining NPA, Mr. Wilson supported PE projects for final mile carrier, regional oil & gas distributor, and Big Red Group. Mr. Wilson was President of Golden State Foods (GSF) McDonald’s Distribution leading 10 DC network servicing 4,200 restaurants. Food industry experience includes deployment of the PepsiCo Food Systems Company and redesign of the McDonald’s U.S. distribution network. While at IBM, Mr. Wilson led 111 the development of the Worldwide Distribution Network Optimization organization and was General Manager of Asia-Pacific Distribution during major shift in global production & sourcing locations. Mr. Wilson volunteer initiatives include American Red Cross, Ronald McDonald House Charities, and GSF Foundation. We believe that Mr. Wilson’s extensive executive and deep supply chain industry background make him well qualified to serve as a director. Greg Stevens has agreed to serve on the board of directors. Mr. Stevens has focused on retailer profitability through the combination of digital marketing services, advertising technologies, advertising sales and both SaaS and enterprise e-commerce platforms. He has 22 years of experience leading start-ups and mid-market companies. Greg was at the helm of three firms that were successfully sold to private equity and publicly traded holding companies. He has a proven track record of successfully managing companies through growth and restructuring phases. Greg is currently an advisor to multiple technology businesses as well as a board member at a SaaS marketing firm. We believe that Mr. Mazer’s extensive executive and deep consumer industry background make him well qualified to serve as a director. We believe that Mr. Steven’s extensive executive and deep consumer industry background make him well qualified to serve as a director. Number and Terms of Office of Officers and Directors We will have seven directors upon completion of this offering. Our board of directors will be divided into three classes with only one class of directors being elected in each year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a three-year term. In accordance with NASDAQ corporate governance requirements, we are not required to hold an annual meeting until one full year after our first fiscal year end following our listing on NASDAQ. The term of office of the first class of directors, consisting of, will expire at our first annual meeting of stockholders. The term of office of the second class of directors, consisting of and , will expire at the second annual meeting of stockholders. The term of office of the third class of directors, consisting of and , will expire at the third annual meeting of stockholders. We may not hold an annual meeting of stockholders until after we consummate our initial business combination. Prior to the completion of an initial business combination, any vacancy on the board of directors may be filled by a nominee chosen by holders of a majority of our founder shares. In addition, prior to the completion of an initial business combination, holders of a majority of our founder shares may remove a member of the board of directors for any reason. Pursuant to an agreement to be entered into concurrently with the issuance and sale of the securities in this offering, our sponsor, upon consummation of an initial business combination, will be entitled to nominate three individuals for election to our board of directors. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our bylaws as it deems appropriate. Our bylaws provide that our officers may consist of a Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Vice Presidents, Secretary, Treasurer, Assistant Secretaries and such other offices as may be determined by the board of directors. Director Independence NASDAQ listing standards require that a majority of our board of directors be independent. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our board of directors has determined that each of, and are “independent directors” as defined in NASDAQ listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. 112 Officer and Director Compensation Commencing on the date of this prospectus, we have agreed to pay our sponsor a total of $20,000 per month for, among other things, the provision of the services of one or more investment professionals, who may be related parties of our sponsor or of one of our executive officers. Each of these professionals will be paid by our sponsor at or below market rates for their services. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. In no event will our sponsor or any of our existing officers or directors, or any entity with which our sponsor or officers are affiliated, be paid any finder’s fee, reimbursement, consulting fee, monies in respect of any payment of a loan or other compensation by the company prior to, or in connection with any services rendered for any services they render in order to effectuate, the completion of our initial business combination (regardless of the type of transaction that it is). However, our sponsor and these individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. We do not have a policy that prohibits our sponsor, executive officers or directors, or any of their respective affiliates, from negotiating for the reimbursement of out-of-pocket expenses by a target business. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust account. Other than quarterly audit committee review of such payments, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection with identifying and consummating an initial business combination. In addition, our chief financial officer will be paid by our sponsor $12,500 per month for his services as chief financial officer of the company. After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined company. All of these fees will be fully disclosed to stockholders, to the extent then known, in the tender offer materials or proxy solicitation materials furnished to our stockholders in connection with a proposed initial business combination. We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination, because the directors of the post-combination business will be responsible for determining officer and director compensation. Any compensation to be paid to our officers will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of directors. We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment. Committees of the Board of Directors Our board of directors will have three standing committees: an audit committee, a compensation committee and a nominating and corporate governance committee. Subject to phase-in rules and a limited exception, NASDAQ rules and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors, and NASDAQ rules require that the compensation committee and nominating and corporate governance committee of a listed company each be comprised solely of independent directors. 113 Audit Committee Prior to the consummation of this offering, we will establish an audit committee of the board of directors. , and will serve as members of our audit committee, and will chair the audit committee. Under NASDAQ listing standards and applicable SEC rules, we are required to have at least three members of the audit committee, all of whom must be independent. Each of, and meet the independent director standard under NASDAQ listing standards and under Rule 10-A-3(b)(1) of the Exchange Act. Each member of the audit committee is financially literate and our board of directors has determined that, and qualify as an “audit committee financial expert” as defined in applicable SEC rules. We will adopt an audit committee charter, which will detail the principal functions of the audit committee, including: • the appointment, compensation, retention, replacement, and oversight of the work of the independent registered public accounting firm engaged by us; • pre-appr

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q QUARTERLY REPORT 2022-05-13 https://www.sec.gov/Archives/edgar/data/1837929/000121390022026097/f10q0322_newprovide2.htm
SC 13G FORM SC 13G 2022-05-06 https://www.sec.gov/Archives/edgar/data/1837929/000106299322011798/formsc13g.htm
10-K ANNUAL REPORT 2022-03-25 https://www.sec.gov/Archives/edgar/data/1837929/000121390022014939/f10k2021_newprovidence2.htm
SC 13G 2022-02-14 https://www.sec.gov/Archives/edgar/data/1837929/000117266122000911/firtree-npab123121.htm
SC 13G SC 13G 2022-02-14 https://www.sec.gov/Archives/edgar/data/1837929/000119312522040475/d316342dsc13g.htm
SC 13G/A NEW PROVIDENCE ACQUISITION CORP. II 2022-02-14 https://www.sec.gov/Archives/edgar/data/1837929/000110465922021319/tm224861d18_sc13ga.htm
SC 13G SCHEDULE 13G 2022-02-10 https://www.sec.gov/Archives/edgar/data/1837929/000121390022006248/ea155210-13gnew_newprovid2.htm
SC 13G/A NEW PROVIDENCE ACQUISITION CORP. II 2022-02-03 https://www.sec.gov/Archives/edgar/data/1837929/000090266422001031/p22-0575sc13ga.htm
8-K CURRENT REPORT 2021-12-27 https://www.sec.gov/Archives/edgar/data/1837929/000121390021067575/ea153053-8k_newprovid2.htm
4 FORM 4 SUBMISSION 2021-12-21 https://www.sec.gov/Archives/edgar/data/1837929/000089924321049278/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-12-21 https://www.sec.gov/Archives/edgar/data/1837929/000089924321049277/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-12-21 https://www.sec.gov/Archives/edgar/data/1837929/000089924321049272/xslF345X03/doc4.xml
10-Q QUARTERLY REPORT 2021-12-20 https://www.sec.gov/Archives/edgar/data/1837929/000121390021066359/f10q0921_newprovide2.htm
SC 13G NEW PROVIDENCE ACQUISITION CORP. II 2021-11-19 https://www.sec.gov/Archives/edgar/data/1837929/000110465921141852/tm2133530d1_sc13g.htm
SC 13G NEW PROVIDENCE ACQUISITION CORP. II 2021-11-19 https://www.sec.gov/Archives/edgar/data/1837929/000090266421005061/p21-2583sc13g.htm
8-K 8-K 2021-11-16 https://www.sec.gov/Archives/edgar/data/1837929/000119312521331324/d242391d8k.htm
8-K 8-K 2021-11-10 https://www.sec.gov/Archives/edgar/data/1837929/000119312521326128/d56225d8k.htm
424B4 424B4 2021-11-08 https://www.sec.gov/Archives/edgar/data/1837929/000156459021055308/npacii-424b4.htm
EFFECT 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/999999999521004193/xslEFFECTX01/primary_doc.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043133/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043132/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043131/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043129/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043126/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043124/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043123/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043122/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000089924321043121/xslF345X02/doc3.xml
S-1MEF S-1MEF 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000156459021054690/npacii-s1mef.htm
CERT 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000135445721001289/8A_Cert_NPAB.pdf
8-A12B 8-A12B 2021-11-04 https://www.sec.gov/Archives/edgar/data/1837929/000156459021054374/npacii-8a12b_20211104.htm
CORRESP 2021-11-02 https://www.sec.gov/Archives/edgar/data/1837929/000156459021053703/filename1.htm
CORRESP 2021-11-02 https://www.sec.gov/Archives/edgar/data/1837929/000156459021053702/filename1.htm
S-1/A S-1/A 2021-11-02 https://www.sec.gov/Archives/edgar/data/1837929/000156459021053279/npacii-s1a.htm
S-1/A S-1/A 2021-09-28 https://www.sec.gov/Archives/edgar/data/1837929/000156459021049088/npacii-s1a.htm
S-1/A S-1/A 2021-09-07 https://www.sec.gov/Archives/edgar/data/1837929/000156459021047115/npacii-s1a.htm
S-1/A S-1/A 2021-07-15 https://www.sec.gov/Archives/edgar/data/1837929/000156459021036620/npacii-s1a.htm
S-1/A S-1/A 2021-05-12 https://www.sec.gov/Archives/edgar/data/1837929/000156459021026714/npacii-s1a.htm
S-1/A S-1/A 2021-04-12 https://www.sec.gov/Archives/edgar/data/1837929/000156459021018371/npacii-s1a.htm
CORRESP 2021-04-09 https://www.sec.gov/Archives/edgar/data/1837929/000156459021018373/filename1.htm
UPLOAD 2021-04-09 https://www.sec.gov/Archives/edgar/data/1837929/000000000021004290/filename1.pdf
S-1/A S-1/A 2021-03-26 https://www.sec.gov/Archives/edgar/data/1837929/000156459021015576/npacii-s1a.htm
CORRESP 2021-03-25 https://www.sec.gov/Archives/edgar/data/1837929/000156459021015578/filename1.htm
UPLOAD 2021-03-22 https://www.sec.gov/Archives/edgar/data/1837929/000000000021003364/filename1.pdf
S-1 S-1 2021-02-22 https://www.sec.gov/Archives/edgar/data/1837929/000156459021007023/npacii-s1.htm