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SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of New Providence .
Rigrodsky & Long, P.A.December 19, 2020 GMT
WILMINGTON, Del., Dec. 18, 2020 (GLOBE NEWSWIRE) Rigrodsky & Long, P.A. announces that it is investigating New Providence Acquisition Corp. (“New Providence”) (NASDAQ CM: NPA ) regarding possible breaches of fiduciary duties and other violations of law related to New Providence’s agreement to merge with AST & Science LLC.
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To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-new-providence-acquisition-corp.
You may contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or info@rl-legal.com.
18 December 2020 | Melanie Mingas The first space-based network to connect directly to 4G and 5G smartphones has received a multi-million-dollar funding boost for the first phase of its commercial launch.
Pioneered by AST SpaceMobile in partnership with Vodafone Group, once live in 2023 the network will connect 1.6 billion people across 49 of the largest countries in the world s equatorial regions.
To support its phase one commercial launch, AST SpaceMobile said it has secured up to US$462 million in gross proceeds in additional financing .
The funds comprise a $232 million cash investment from New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU and NPAWW) and, through a business combination agreement with NPA, AST will become a publicly traded company on the NASDAQ exchange, trading under the symbol ASTS.
Vodafone and AST SpaceMobile Unveil Launch Plans for Space-Based Mobile Network Initially Reaching 1 6 Billion People – Parabolic Arc parabolicarc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from parabolicarc.com Daily Mail and Mail on Sunday newspapers.
WeissLaw is investigating whether NPA s board acted in the best interest of NPA s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of AST, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to NPA public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, pleas
Photo: AST SpaceMobile
AST SpaceMobile rolled out two major announcements on Wednesday the company is planning to go public through a special purpose acquisition company (SPAC), and plans to launch the first phase of a space-based commercial mobile communications service with
Vodafone Group in 2023.
New Providence Acquisition Corp., a publicly traded special purpose acquisition company, has agreed to combine with AST SpaceMobile at an estimated $1.4 billion pro forma enterprise value, or 1.4 times calendar year 2024’s estimated EBITDA of approximately $1 billion. The transaction is expected to provide up to $462 million in gross proceeds, between New Providence Acquisition Corp.’s $232 million of cash held in trust and a $230 million fully committed common stock private placement investment (PIPE) led by