Abra, the digital asset wealth management platform founded in 2014 by CEO Bill Barhydt, is going public through a reverse merger with SPAC New Providence Acquisition Corp. III.
The deal values Abra at a $750 million pre-money equity valuation. Post-transaction, the combined company will trade on the Nasdaq under the ticker ABRX.
Existing investors-including Pantera Capital, Blockchain Capital, RRE Ventures, Adams Street, and SBI-will roll over their stakes. The public company will focus exclusively on crypto wealth management: custody, segregated accounts, yield strategies, crypto-backed loans, treasury services, and trading.
Abra Capital Management LP is SEC-registered, enabling portfolio management for high-net-worth clients, institutions, and family offices.
The move follows Abra’s 2024 settlement across 25 U.S. states over its Abra Earn product, after which it exited retail lending and pivoted fully to institutional services.
