Digital asset registered investment advisor Abra is planning to go public through a merger with special purpose acquisition company New Providence Acquisition Corp. III, in a deal that assigns the crypto wealth platform a pre-money equity valuation of $750 million.
The proposed transaction would see the combined company renamed Abra Financial, Inc., with shares expected to trade on the Nasdaq under the ticker symbol ABRX, subject to regulatory and shareholder approvals.
The move underscores growing ambitions among RIAs to integrate digital assets into broader wealth management offerings, as firms position themselves to meet rising client demand for crypto exposure, lending and yield strategies.
Abra operates through an SEC-registered investment advisor structure, providing services that include crypto custody, trading, lending, structured yield and portfolio guidance for high-net-worth investors, RIAs and institutional clients. The firm is seeking to expand these capabilities as it prepares for public ownership.
As part of the business combination, the company could gain access to up to $300 million held in New Providence’s trust account, depending on redemption levels and transaction expenses. The capital is expected to be used to support working capital needs and accelerate growth initiatives across product development, marketing and distribution.
Existing investors — including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures and SBI — have agreed to roll over their entire equity stakes into the newly listed entity, providing continuity in ownership and long-term backing.
Founder and CEO Bill Barhydt framed the transaction as a step toward scaling digital wealth solutions within the advisor channel.
"We believe that Bitcoin, stablecoins, and the tokenization of real world assets are quickly becoming the backbone of the future financial system," 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.”
Executives at New Providence also pointed to the opportunity for advisors seeking exposure to emerging financial technologies.
“Abra represents a compelling opportunity to invest in a pioneering company with unique technology, access to a growing customer base, and a flexible and scalable business model that addresses the future of wealth management and financial technology,” said co-chairman Alex Coleman. “There is an extraordinary market opportunity at the intersection of personal finance and digital assets.”
The transaction reflects broader industry momentum as RIAs explore ways to incorporate tokenization, stablecoins and crypto-linked credit solutions into diversified client portfolios. If completed, the listing would give Abra additional resources to compete with both traditional advisory firms and crypto-native platforms targeting affluent investors.
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