PANews reported on March 16th that, according to CoinDesk, Crypto wealth management platform Abra plans to go public through a merger with special purpose acquisition company New Providence Acquisition Corp. III, valuing the company at approximately $750 million. The merged company will be renamed Abra Financial Inc. and is planned to trade on Nasdaq under the ticker symbol ABRX. The transaction is expected to bring in up to $300 million in cash (depending on shareholder redemptions and fees), which will be used to expand its institutional crypto lending, yield, and custody businesses, as well as its RWA tokenization and DeFi initiatives. Abra previously reached settlements with regulators in several US states and the SEC regarding unregistered lending and securities products, closing its US retail operations and refunding customer funds. It now focuses on serving institutional and high-net-worth clients, managing hundreds of millions of dollars in assets, with a target of exceeding $10 billion by 2027.