Abra Financial Holdings is set to merge with special purpose acquisition company New Providence Acquisition Corp. III in a deal that will take the digital asset wealth management firm public. Following the transaction, the combined business is expected to operate as Abra Financial and trade on Nasdaq under the ticker “ABRX.” The agreement assigns Abra a $750 million pre-money equity valuation, with existing investors including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI rolling over all of their holdings into the new public company.
Abra said it is targeting affluent individuals, institutions, funds, and registered investment advisor clients in a market tied to both traditional wealth management and tokenized financial assets. “We believe that Bitcoin, stablecoins, and the tokenization of real-world assets are quickly becoming the backbone of the future financial system,” said Bill Barhydt, Founder and CEO of Abra.
Abra said it will use proceeds from the deal for working capital, product development, and broader sales and marketing efforts as it seeks to expand its platform. The company currently offers custody, trading, yield strategies, collateralized lending, and advisory services through separately managed digital asset accounts, while also aiming to support tokenized equities and real estate in the future. Management said the business already oversees hundreds of millions of dollars in assets and is targeting more than $10 billion in assets under management by the end of 2027.
Alex Coleman, Co-Chairman of New Providence, said Abra offers “a compelling opportunity” tied to the future of personal finance and digital assets. The transaction has received unanimous board approval from both companies and remains subject to shareholder approval and customary closing conditions.
