New Providence Acquisition Corp. III/Cayman (NPAC): debt financing — New Providence Acquisition Corp. III issues $1.5M promissory notes to co-CEOs for working capital

New Providence Acquisition Corp. III/Cayman

Issued two unsecured promissory notes totaling $1.5M ($750k each) to co-CEOs Gary Smith and Alexander Coleman.
Notes bear no interest, mature upon earlier of business combination or liquidation.
Lenders may convert outstanding principal into units at $10/unit, identical to private placement units from IPO.
Sponsor previously advanced $200k, payable on demand.
Proceeds used for working capital needs.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

New Providence Acquisition Corp. III/Cayman incurred convertible notes of up to $1,500,000 aggregate with Gary Smith and Alexander Coleman at 0% maturing earlier of initial business combination or liquidation.

Instrument: convertible notes
Principal: up to $1,500,000 aggregate
Counterparty: Gary Smith and Alexander Coleman
Rate: 0%
Maturity: earlier of initial business combination or liquidation
Event: incurrence

Exact text from the filing

On June 8, 2026, New Providence Acquisition Corp. III (the “ Company ”) issued unsecured promissory notes (the “ Notes ”), each in the aggregate principal amount of up to $750,000 to (i) Gary Smith and (ii) Alexander Coleman, the company’s co-Chief Executive Officers (the “ Lenders ”), for the Company’s working capital needs, for a total aggregate principal amount of $1,500,000.

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New Providence Acquisition Corp. III/Cayman filing history →

Source: SEC EDGAR

accession 0001213900-26-066354

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