Abra to go public in $750M SPAC merger, Nasdaq listing
7 Investments Abra will go public via a $750M SPAC merger, listing on Nasdaq as ABRX. The deal may deliver up to $300M in cash, with all current investors retaining their stakes.
Abra, a digital asset wealth management platform, plans to go public through a merger with New Providence Acquisition Corp. III, a special purpose acquisition company (SPAC). This transaction values Abra at $750 million pre-money and will result in the combined entity, Abra Financial Holdings, Inc., being listed on Nasdaq under the ticker ABRX. The deal could provide up to $300 million in cash from the SPAC’s trust, subject to shareholder redemptions. Existing Abra investors—including Pantera Capital, Blockchain Capital, Adams Street, RRE Ventures, and SBI—will roll 100% of their interests into the new public company. Abra offers crypto storage, trading, yield earning, and borrowing services, with assets held in segregated vaults. As an SEC-registered investment adviser, Abra aims to expand its offerings and client base, targeting $10 billion in assets under management by 2027. The merger is pending shareholder approval and regulatory filings, with key financial and governance details yet to be disclosed.
