In an official announcement, Abra said it has agreed to merge with special purpose acquisition company New Providence Acquisition Corp. III in a deal valuing the crypto wealth platform at $750 million before new capital. The combined company is expected to be renamed Abra Financial Inc. and trade on Nasdaq under the ticker ABRX. Abra said the transaction could provide up to $300 million in cash from the SPAC trust account, subject to shareholder redemptions and expenses, and stated that it is targeting more than $10 billion in assets under management by the end of 2027. The company is focused on institutional and high-net-worth crypto services following prior settlements with the SEC and U.S. state regulators tied to its earlier retail lending and securities offerings.