New Providence Acquisition Corp NPA
Has an enterprise value greater than $700 milion; Cresent at $9.20
7 months left till end of 18month
Units 10.15$ 1 common ½ warrant
Category – broader consumer market, ranging from the supply chain through to finished branded packaged goods in food, beverages, products, devices or hospitality consumer industry
They are looking for
• Occupies relatively fast-growing markets;
• Has strong drivers of revenue and earnings growth;
• Exhibits “barriers to competition”; I think he means a Moat around the business
NO PR since Sep 2019
• has 20 years of institutional private equity experience, focused predominantly on U.S. based middle market companies operating in the food and beverage , information and business services and specialized manufacturing markets.
• was also a Managing Partner of Sea Hunter, a specialized fund focused on the evolving global cannabis market and a predecessor to Tilt Holdings. He has now stepped down and was used to get a 4 way merger done and then made them public.
• MBA from the University of Cambridge
• 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.
Gary Smith CEO –
• held senior management positions at PepsiCo, Red Bull and Big Red, Inc.
• CEO of Big Red he 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.
• led the buy side acquisition and integration of All Sport, Nesbitt’s, NuGrape, Thomas Kemper, HyDrive Energy Water and XYIENCE Energy Drink.
Rick Mazer serves on our board of directors. Mr. Mazer has served as Chairman of The Culinary Institute of America since 2017, and 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. Ginsberg served as Chief Executive Officer of Red Bull North America until 2007
Timothy Gannon – Co-Founder of Outback Steakhouse
Thoughts? Green Drank?