Abra plans to go public through a SPAC merger, with a valuation of $750 million.

Mars Finance reported on March 16th that Abra Financial Holdings, Inc., a digital asset wealth management platform, announced a definitive merger agreement with New Providence Acquisition Corp. III (Nasdaq: NPACU), a special purpose acquisition company, for a SPAC listing. The merged company is expected to list on Nasdaq under the ticker symbol "ABRX". Key terms of the transaction include: • Valuation: Based on a pre-money equity valuation of $750 million for Abra. • Capital injection: The transaction is expected to bring in up to $300 million in cash (held in a trust account, deducting shareholder redemptions). • Shareholder structure: Existing Abra shareholders will transfer 100% of their equity to the merged company, including prominent institutions such as Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI. • Market positioning: Serving the $100 trillion wealth management market, focusing on digital assets and tokenization.