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Reuters
Mon, March 16, 2026 astatine 6:29 AM CDT 1 min read
March 16 (Reuters) - Crypto wealthiness absorption level Abra plans to spell nationalist done a merger with blank-check steadfast New Providence Acquisition Corp III, amid renewed capitalist involvement successful integer plus companies, Abra said on Monday.
After the transaction closes, the combined institution volition run arsenic Abra Financial Holdings, Inc., and anticipates listing connected the Nasdaq exchange.
Here are immoderate details:
* The transaction is based connected a $750 cardinal pre-moneyequity worth of Abra * Existing Abra investors, including Pantera Capital andAdams Street, will rotation 100% of their interests into thecombined institution * "This is conscionable the adjacent logical measurement for us," said BillBarhydt, founder and CEO of Abra, successful an interview. "We believethat we're headed for truly large things, large maturation successful thecoming years." * Abra offers crypto custody, trading and lending forregistered concern advisers, backstage clients, household officesand hedge funds, and is itself a registered concern advisor * Abra agreed to a colony in 2024 with the U.S.Securities and Exchange Commission over allegations that thecompany's lending merchandise Abra Earn -- which has since beenwound down -- should have been registered arsenic a information * Also successful 2024, Abra settled with 25 authorities financialregulators aft the states found that Abra operated successful thejurisdictions without obtaining required licenses
(Reporting by Hannah Lang successful New York; editing by Diane Craft)
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