Abra intends to go public on Nasdaq through a $750 million SPAC merger.

MarsBitNews

2026-03-16 15:48:01

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Mars Finance News: According to CoinDesk, crypto wealth management platform Abra plans to go public through a merger with special purpose acquisition company New Providence Acquisition Corp. III, valuing the company at approximately $750 million. After the merger, the company will be renamed Abra Financial Inc. and will trade on NASDAQ under the ticker symbol ABRX. The deal is expected to generate up to $300 million in cash (depending on shareholder redemptions and fees), which will be used to expand institutional crypto lending, yield, and custody services, as well as to develop RWA tokenization and DeFi. Previously, Abra settled with multiple U.S. state regulators and the SEC over unregistered lending and securities products, shutting down its U.S. retail operations and refunding customer funds. The company now focuses on serving institutional and high-net-worth clients, managing hundreds of millions of dollars in assets, with a goal to exceed $10 billion by 2027.

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