New Providence Acquisition Corp. III (NPAC) is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands and headquartered in Palm Beach, Florida. The company completed its $300 million initial public offering in April 2025 with the initial intent to target businesses in the consumer industry. However, in March 2026, NPAC announced a definitive business combination agreement to merge with Abra Financial Holdings, Inc., valuing the target at a $750 million pre-money equity valuation. Abra is a crypto-native wealth management platform and SEC-registered investment advisor that provides digital asset services to high-net-worth individuals, family offices, registered investment advisors (RIAs), and institutional clients. Abra's core offerings include segregated digital asset custody, trading execution, collateralized crypto lending, and structured yield strategies through separately managed accounts. The merger aims to provide Abra with up to $300 million in growth capital from NPAC's trust account to scale its institutional wealth management infrastructure and expand its suite of on-chain financial products. Upon completion of the transaction, the combined company is expected to be renamed Abra Financial, Inc. and list on the Nasdaq under the ticker symbol ABRX.
