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Crypto wealth platform Abra to go public via $750 million SPAC deal

Crypto wealth platform Abra to go public via $750 million SPAC deal

Crypto wealth platform Abra said it plans to go public through a merger with special purpose acquisition company New Providence Acquisition Corp. III in a deal that values the firm at $750 million.

The combined company will be renamed Abra Financial Inc. and is expected to list on Nasdaq under the ticker ABRX, according to an announcement.

The transaction could deliver as much as $300 million in cash from the SPAC’s trust account, though the final amount depends on shareholder redemptions and deal expenses.

Founded in 2014 and based in San Francisco, Abra provides a range of services for crypto investors. Its platform allows institutions, registered investment advisers, family offices and wealthy individuals to store crypto, trade…

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