---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-027989"
form_type: "8-K"
ticker: "NPAC"
cik: "0002048948"
company_name: "New Providence Acquisition Corp. III/Cayman"
filed_at: "2026-03-16T23:59:59+00:00"
generated_at: "2026-05-15T12:01:18.370037+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# New Providence SPAC to merge with Abra Financial at $750M equity value

## Summary
- All-stock deal: Abra holders get ~$750M / redemption-price in SPAC shares; CEO William Barhydt to lead combined company.
- SPAC must raise at least $150M in transaction financing prior to close; net cash proceeds condition of $40M.
- 18-month lock-up for certain Abra stockholders; early release if SPAC stock >$12.50 VWAP for 10 of 20 days.
- Termination date: October 15, 2026; customary conditions include antitrust, regulatory approvals and Nasdaq listing.
- Board set at 7 members: 1 from SPAC, 3 from Abra, CEO, plus 2 independent fintech experts mutually agreed.

## SEC filing metadata
- accession: 0001213900-26-027989
- form_type: 8-K
- ticker: NPAC
- cik: 0002048948
- company_name: New Providence Acquisition Corp. III/Cayman
- filed_at: 2026-03-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2048948/000121390026027989/0001213900-26-027989-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2048948/000121390026027989/ea0280339-8k425_newpro3.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-027989
- JSON: https://secwatch.observer/filing/0001213900-26-027989.json
- Plain text: https://secwatch.observer/filing/0001213900-26-027989.txt

## Key facts
- Material Agreements
  New Providence Acquisition Corp. III/Cayman entered into Business Combination Agreement with Abra Financial Holdings, Inc. valued at $750,000,000 (Merger Consideration) (effective 2026-03-16).
  - Action: entry
  - Agreement: merger
  - Counterparty: Abra Financial Holdings, Inc.
  - Value: $750,000,000 (Merger Consideration)
  - Effective: 2026-03-16
  source text: On March 16, 2026, New Providence Acquisition Corp. III, a Cayman Islands exempted company (" SPAC "), entered into a Business Combination Agreement (the " Business Combination Agreement ") with Abra Financial Holdings, Inc., a Delaware corporation (together with its successors, " Abra " or the " Company "), and Aether Merger Sub I, Corp., a Delaware corporation and a wholly-owned subsidiary of SPAC (" Merger Sub ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/2048948/000121390026027989/0001213900-26-027989-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.