Digital asset management platform Abra has announced a merger with special purpose acquisition company New Providence Acquisition Corp. III to go public. The merged company will be renamed Abra Financial and plans to list on NASDAQ under the ticker symbol ABRX. The transaction values Abra at approximately $750 million pre-money, and the deal is expected to bring the company up to approximately $300 million in funding (subject to redemptions). Abra stated that it will provide cryptocurrency custody, trading, yield, lending, and asset management services to institutions, family offices, and high-net-worth clients.
Digital asset management platform Abra has announced a merger with special purpose acquisition company New Providence Acquisition Corp. III to go public. The merged company will be renamed Abra Financial and plans to list on NASDAQ under the ticker symbol ABRX. The transaction values Abra at approximately $750 million pre-money, and the deal is expected to bring the company up to approximately $300 million in funding (subject to redemptions). Abra stated that it will provide cryptocurrency custody, trading, yield, lending, and asset management services to institutions, family offices, and high-net-worth clients.