Announcement • Jun 09
New Providence Acquisition Corp. III announced that it has received $1.5 million in funding New Providence Acquisition Corp. III has announced to issue unsecured promissory notes of each in the aggregate principal amount of up to $750,000 to (i) Gary Smith and (ii) Alexander Coleman, the company’s co-Chief Executive Officers for a total aggregate principal amount of $1,500,000 on June 8, 2026.The Notes do not bear interest and mature upon the earlier of the closing of an initial business combination by the Company and the Company’s liquidation. Notes are convertible, at the option of the respective Lender, into units of the Company, at a conversion price of $10.00 per Conversion Unit, with each unit consisting of one share of the Company’s Class A ordinary share, par value $0.0001 per share and one-third of one warrant, with each whole warrant exercisable for one Class A Ordinary Share at $11.50 per share. Announcement • Mar 16
Plutus Financial Inc. entered into a definitive business combination agreement to acquire New Providence Acquisition Corp. III (NasdaqGM:NPAC) in a reverse merger transaction. Plutus Financial Inc. entered into a definitive business combination agreement to acquire New Providence Acquisition Corp. III (NasdaqGM:NPAC) in a reverse merger transaction on March 16, 2026. Under the terms of the transaction, New Providence will be renamed Abra Financial, Inc and its common stock is expected to be listed on Nasdaq under the ticker symbol “ABRX”.
The transaction is subject to subject to antitrust regulations, approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board and approval of offer by target shareholders. The deal has been unanimously approved by the board. The Business Combination Agreement may be terminated at any time prior to the Closing by either SPAC or Abra if the Closing does not occur by October 15, 2026, or such other date as may be extended pursuant to the Business Combination Agreement.
David Landau and Meredith Laitner of Ellenoff Grossman & Schole LLP acted as legal advisor for New Providence Acquisition Corp. III. Caine Moss, Mitzi Chang, Jocelyn Arel, and Jeffrey Letalien of Goodwin Procter LLP acted as legal advisor for Plutus Financial Inc. Cantor Fitzgerald, L.P. acted as financial advisor for Plutus Financial Inc. Ogier acted as legal advisor for New Providence Acquisition Corp. III. Kirkland and Ellis LLP is serving as legal advisor to Cantor. 
