Digital asset wealth management firm Abra Financial Holdings announced March 16 that it plans to go public through a merger with special purpose acquisition company New Providence Acquisition Corp. III, valuing the company at $750 million before new capital.
Digital Asset Manager Abra Plans Nasdaq Debut via New Providence SPAC MergerNew Providence Acquisition Corp. III completed its initial public offering in May 2025, raising about $300.15 million through the sale of 30,015,000 units. Each unit includes one Class A share and a half warrant with an exercise price of $11.50. The SPAC was formed to pursue mergers in consumer markets but has flexibility to target fintech and digital asset companies.
FAQ What is Abra Financial?Abra is a San Francisco-based digital asset wealth management platform offering custody, trading, lending and advisory services tied to cryptocurrencies and tokenized assets. How is Abra going public?Abra plans to merge with SPAC New Providence Acquisition Corp. III in a deal that will list the combined company on Nasdaq under the ticker ABRX. What is the valuation of the Abra SPAC deal?The transaction values Abra at a $750 million pre-money equity valuation before new capital from the SPAC trust account. When could the Abra Nasdaq listing occur?The merger is expected to close before Oct. 15, 2026, subject to shareholder approvals, regulatory clearances and SEC registration filings.
