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.