Abra Plans Nasdaq Debut in $750M SPAC Deal With New Providence

Digital asset wealth manager Abra will go public through a reverse merger with New Providence Acquisition Corp. III, valuing the company at a pre-money equity valuation of $750 million. Existing investors including Pantera Capital, Blockchain Capital, RRE Ventures, Adams Street and SBI will roll their shares into the combined entity, which is expected to trade on Nasdaq under the ticker ABRX.

The public company will focus on crypto wealth management, offering custody and segregated accounts, yield strategies, crypto-backed loans, treasury management and trading services. Abra was founded in 2014 by CEO Bill Barhydt and operates a platform serving high-net-worth investors, institutions and family offices.

Abra has been restructuring its U.S. operations following regulatory scrutiny. In 2024 the firm reached a settlement with regulators in 25 states over its Abra Earn lending product, agreeing to return assets to investors and wind down the program for U.S. clients as it shifted toward institutional and wealth management services.

United States

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