New Providence Acquisition Corp. III/Cayman (NPAC) Form 10-Q — Aug 14, 2026
New Providence Acquisition Corp. III disclosed going-concern doubt in its 10-Q for the quarter ended June 30, 2026, reporting just $63,822 in operating cash and a $1,171,114 working capital deficit. Management said the liquidity condition raises substantial doubt about its ability to continue as a going concern and that it may need additional loans or investments from its sponsor, officers, or directors. The SPAC reported quarterly net income of $2,236,828, but this was entirely driven by $2,768,034 of interest earned on its $315.5 million trust account, against a $531,206 operating loss.
Key figures
- Eps
- 0.09
- Net Income
- 3608260
- Total Assets
- 315715883
- Cash Position
- 63822
- Q2 Eps
- 0.06
- Q2 Net Income
- 2236828
- Wcl Notes Drawn
- 0
- Sponsor Advance
- 200000
- Ipo Gross Proceeds
- 300150000
- Wcl Notes Facility
- 1500000
- Accumulated Deficit
- 13960951
- Combination Deadline
- April 25, 2027
- Trust Account Balance
- 315489953
- Warrants Outstanding
- 10295692
- Q2 Loss From Operations
- 531206
- Q2 Trust Interest Income
- 2768034
- Total Transaction Costs
- 18631614
- Working Capital Deficit
- 1171114
- Abra Merger Consideration
- 750000000
- Class AShares Outstanding
- 30887075
- Class BShares Outstanding
- 7503750
- Deferred Underwriting Fee
- 12789000
- Administrative Fee Monthly
- 20000
- Private Placement Proceeds
- 8720750
- Total Shareholders Deficit
- 13960114
- Six Month Loss From Operations
- 1885550
- Minimum Transaction Financing
- 150000000
- Six Month Trust Interest Income
- 5493810
- Redemption Value Per Public Share
- 10.51
- Class AShares Subject To Redemption
- 30015000
Price after filing
Close on the filing date to close N calendar days later (from $10.49). Historical, not a forecast.
AI analysis
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