Abra, a Digital Asset Wealth Management Platform, to Become a Public Company via Business Combination With New Providence Acquisition Corp. III

Mar 16, 2026

• 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 management
• Company services the $100 trillion dollar wealth management market including existing registered investor advisors (“RIAs”), institutions, family offices and high net worth investors
• Transaction expected to deliver significant growth capital, including up to $300 million of cash held in trust, subject to reductions for redemptions
• Transaction 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, CA and New York, NY — March 16th, 2026 — Abra Financial Holdings, Inc. (“Abra”), a digital asset wealth management platform, and New Providence Acquisition Corp. III (Nasdaq: NPACU) (“New Providence”), a special purpose acquisition company, today announced that they have entered into a definitive business combination agreement for a transaction to take Abra’s business public. Under the terms of the business combination agreement, New Providence will be renamed Abra Financial, Inc. (the “Combined Company”) and its common stock is expected to be listed on Nasdaq under the ticker symbol “ABRX”.

The Combined Company will serve high net-worth, institutional, fund and RIA clients in a rapidly expanding market at the intersection of the $100 trillion wealth management industry and the digital asset and tokenization sectors.

The transaction consideration, in the form of newly-issued Combined Company securities, is based on a $750 million pre-money equity value of Abra. Existing equity holders of Abra, including Adams Street, Blockchain Capital, Pantera Capital, RRE Ventures, and SBI will roll 100% of their interests into the Combined Company.

“We believe that Bitcoin, stablecoins, and the tokenization of real world assets are quickly becoming the backbone of the future financial system,” said Bill Barhydt, Founder and CEO of Abra. “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. Our aim is to bring institutional-grade on-chain crypto wealth management products to investors worldwide within a regulated and transparent framework.”

“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 Alex Coleman, Co-Chairman of New Providence. “There is an extraordinary market opportunity at the intersection of personal finance and digital assets. We believe Abra is poised for significant and sustained growth as the world moves to a tokenized and digital assets-based financial system.”

Leading Digital Asset Wealth Management Platform

Abra offers a comprehensive infrastructure for digital asset wealth management, offering segregated custody, trading, yield strategies, collateralized lending, and advisory services through separately managed accounts or “vaults.”

Abra’s Key Investment Highlights

• SEC-Registered & Fiduciary — One of the only U.S. platforms currently offering a comprehensive suite of services for custody, trading, yield, and lending under a registered investment advisor (RIA) framework as a fiduciary to clients
• Institutional-Grade Vault Infrastructure — Segregated digital asset custody infrastructure utilizing multi-party computation wallet technology. Client digital assets stay off the company’s balance sheet and are maintained in separately managed client accounts or vaults.
• Comprehensive Product Suite — Vault (custody), Yield (proprietary strategies across many digital assets including BTC, ETH, SOL, and stablecoins), Loans (borrow against crypto), Prime (OTC desk, trading across hundreds of digital assets, 24/7), Private (HNW advisory), and Treasury (corporate treasury management)
• Growth Trajectory — With hundreds of millions of dollars in assets under management (“AUM”), Abra management is targeting over $10B+ in AUM by the end of 2027
• RWA Tokenization Support — Abra expects to support a wide range of real world assets such as tokenized equities and tokenized real estate on its platforms
• DeFi Expansion via AbraFi — Abra recently launched access to USDAF, a yield bearing Solana-native synthetic dollar, expected to extend Abra’s reach from centralized wealth management into decentralized finance, which could expand its deposits and transactional revenues

Transaction Overview

Under the terms of the business combination agreement and subject to redemptions by New Providence public shareholders at or prior to closing, and the terms and amounts of any financing transactions in which the parties may engage in accordance with the terms of the business combination agreement, Abra equity holders are expected to hold a majority of the Combined Company shares outstanding immediately after the closing.

Proceeds to Abra from the transaction, after satisfaction of shareholder redemptions and transaction expenses, if any, are expected to be used by Abra for working capital and other purposes, including further development of Abra management’s growth strategies, increased sales and marketing spend, among other purposes.

Prior to entering into the business combination agreement, the board of directors of each of New Providence and Abra unanimously approved the transactions, which will also be submitted for approval by New Providence’s shareholders and Abra’s stockholders prior to, and as a condition of, the closing. The transaction is subject to the satisfaction or waiver of customary closing conditions.

Additional information about the proposed transactions (the “Transactions”), including a copy of the business combination agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by New Providence with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov and in future SEC filings by New Providence in connection with the transactions, including a registration statement on form S-4 to be filed with the SEC in connection with the transactions (the “Registration Statement”).

Advisors

Cantor Fitzgerald & Co. is acting as financial and capital markets advisor to Abra.

Goodwin Procter LLP is serving as legal advisor to Abra. Ellenoff Grossman & Schole LLP is serving as U.S. legal advisor to New Providence. Ogier is acting as Cayman Islands legal advisor to New Providence. Kirkland and Ellis LLP is serving as legal advisor to Cantor.

Wachsman is serving as communications advisor to Abra.

About Abra

Abra is a leading crypto-native products and wealth management platform, offering institutions and individual investors a suite of digital asset services including custody, trading, yield, lending, and advisory services through its SEC-registered investment advisor. Abra was Founded in 2014 with headquarters in San Francisco, California.

About New Providence

New Providence Acquisition Corp. III is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. In May 2025, New Providence consummated a $300.15 million initial public offering (the “IPO”) of 30,015,000 million units (reflecting the underwriters’ exercise of their over-allotment option in full), each unit consisting of one of the Company’s Class A ordinary shares and one-half warrant, each whole warrant enabling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. New Providence’s units are quoted on the Nasdaq stock exchange under the ticker symbol “NPACU”.