Crypto Firm Abra to Go Public on Nasdaq in $750 Million SPAC Deal [Yahoo! Finance]
New Providence Acquisition Corp. III - Units (NPACU)
Company Research
Source: Yahoo! Finance
Abra Financial Holdings, the San Francisco-based digital asset wealth management platform, said Monday it will go public through a business combination with New Providence Acquisition Corp. III, a special purpose acquisition company trading on Nasdaq under the ticker NPACU The combined company is expected to list on Nasdaq under the ticker symbol ABRX, the company said in a press release. The transaction values Abra at $750 million on a pre-money basis. The firm's existing investors, including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI, will roll 100% of their stakes into the combined entity. New Providence's trust holds up to $300 million in cash, subject to shareholder redemptions, which would serve as growth capital for the combined company. Abra is positioning itself as the first publicly traded company with an SEC-registered investment advisor focused on digital asset wealth management, offering services including custody, trading, yield str
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News
- Crypto Wealth Platform Abra To Go Public Via SPAC Deal [Yahoo! Finance]Yahoo! Finance
- Crypto company Abra to go public in blank-check merger [Yahoo! Finance]Yahoo! Finance
- Abra, a Digital Asset Wealth Management Platform, to Become a Public Company via Business Combination With New Providence Acquisition Corp. IIIBusiness Wire
- With 63% ownership, New Providence Acquisition Corp. III (NASDAQ:NPAC) boasts of strong institutional backing [Yahoo! Finance]Yahoo! Finance