Abra Financial to Go Public Through SPAC Merger With $750 Million Valuation

By Elias Schisgall

Abra Financial Holdings will go public by merging with a blank-check company in a deal that values the digital asset wealth management company at $750 million.

Abra has agreed to merge with New Providence Acquisition III, a special purpose acquisition company. New Providence will be renamed Abra Financial and shares of the combined company are expected to trade on Nasdaq under the symbol "ABRX."

Existing Abra investors will roll over 100% of their interests and will receive $750 million worth of shares of the combined company in total. Abra investors are expected to hold a majority of outstanding shares after closing.

Abra said it will use any proceeds from the transaction to expand its growth strategies and increase investments in sales and marketing, as well as working capital.

Post-merger, the company will focus on digital asset wealth management for high net-worth, institutional, fund and registered investment adviser clients.

"We believe that Bitcoin, stablecoins and the tokenization of real world assets are quickly becoming the backbone of the future financial system," Abra Chief Executive Bill Barhydt said. "We also believe that demand for crypto-backed loans, stablecoin-based yield, and other digital asset services are going to increase dramatically in the coming years."

"Our aim is to bring institutional-grade on-chain crypto wealth-management products to investors worldwide within a regulated and transparent framework," Barhydt added.

Existing Abra investors include Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures and SBI.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

March 16, 2026 10:45 ET (14:45 GMT)