Abra, a Digital Asset Wealth Management Platform, to Become a Public Company via Business Combination With New Providence Acquisition Corp. III
New Providence Acquisition Corp. III - Units (NPACU)
Company Research
Source: Business Wire
Establishes the first publicly traded company with an SEC-registered investment advisor and digital asset wealth management platform enabling on-chain yield, lending, trading and treasury managementCompany services the $100 trillion dollar wealth management market including existing registered investor advisors (“RIAs”), institutions, family offices and high net worth investorsTransaction expected to deliver significant growth capital, including up to $300 million of cash held in trust, subject to reductions for redemptionsTransaction consideration is based on a $750 million pre-money equity value of Abra, with existing Abra stockholders rolling 100% of their interests into the combined company, including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI. SAN FRANCISCO & NEW YORK--(BUSINESS WIRE)--Abra Financial Holdings, Inc. ("Abra"), a digital asset wealth management platform, and New Providence Acquisition Corp. III (Nasdaq: NPACU) (“New Providence”), a s
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