NMP Acquisition Corp. completes over-allotment option, raises additional $15 million

NMP Acquisition Corp. (NASDAQ:NMP), a blank check company, announced Thursday that it has completed the sale of 1,500,000 additional units as part of the full exercise of the underwriters’ over-allotment option. The units were sold at $10.00 each, resulting in total gross proceeds of $15 million.

The company also disclosed that, simultaneously with the sale of these additional units, it completed a private placement of 7,500 units to its sponsor, Next Move Capital LLC, generating $75,000 in gross proceeds. The private units were issued under exemptions from registration as they did not involve a public offering.

In connection with the over-allotment closing, NMP Acquisition Corp. issued 60,000 Class A ordinary shares to a designee of the underwriters’ representative as part of underwriting compensation. The underwriters also agreed to waive commissions totaling $37,500, which will be available to the company as additional working capital prior to its initial business combination.

Including the proceeds from its initial public offering and related private placements, a total of $115 million has been placed in a trust account for the benefit of public shareholders and underwriters, with Continental Stock Transfer & Trust Company serving as trustee.

The information is based on a statement in a press release and SEC filing submitted Thursday.

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