• Establishes the first publicly traded company with an SEC-registered investment advisor and digital asset wealth management platform enabling on-chain yield, lending, trading and treasury management
  • Company services the $100 trillion dollar wealth management market including existing registered investor advisors ("RIAs"), institutions, family offices and high net worth investors
  • Transaction expected to deliver significant growth capital, including up to $300 million of cash held in trust, subject to reductions for redemptions
  • Transaction consideration is based on a $750 million pre-money equity value of Abra, with existing Abra stockholders rolling 100% of their interests into the combined company, including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI.

Abra Financial Holdings, Inc. ("Abra"), a digital asset wealth management platform, and New Providence Acquisition Corp. III (NASDAQ:NPACU) ("New Providence"), a special purpose acquisition company, today announced that they have entered into a definitive business combination agreement for a transaction to take Abra's business public. Under the terms of the business combination agreement, New Providence will be renamed Abra Financial, Inc. (the "Combined Company") and its common stock is expected to be listed on Nasdaq under the ticker symbol "ABRX".

The Combined Company will serve high net-worth, institutional, fund and RIA clients in a rapidly expanding market at the intersection of the $100 trillion wealth management industry and the digital asset and tokenization sectors.

The transaction consideration, in the form of newly-issued Combined Company securities, is based on a $750 million pre-money equity value of Abra. Existing equity holders of Abra, including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI will roll 100% of their interests into the Combined Company.