Overview
- Existing investors including Pantera Capital, Blockchain Capital, Adams Street, RRE Ventures and SBI will roll 100% of their stakes into the combined company.
- After winding down U.S. retail offerings, Abra now serves institutions, RIAs, family offices and high‑net‑worth clients under an SEC‑registered investment adviser framework.
- The company settled actions with the SEC, CFTC and 25 state regulators tied to its prior lending program, returning about $82 million to customers in 2024.
- Proceeds are earmarked to scale institutional lending, custody and yield products and to expand into tokenized assets and DeFi, including its Solana‑based USDAF, with a goal of surpassing $10 billion AUM by end‑2027.
- The merger remains subject to shareholder approvals and standard closing conditions, with New Providence to file the business combination agreement and investor materials on Form 8‑K.