Coincheck is moving forward with its merger with Thunder Bridge Capital Partners IV, aiming to go public on Nasdaq by the third quarter.
The Japanese cryptocurrency exchange, Coincheck, has submitted a confidential draft registration statement on Form F-4 to the U.S. Securities and Exchange Commission (SEC) as part of its planned merger with Thunder Bridge Capital Partners IV, Inc., a special purpose acquisition company.
In a press release on May 7, Coincheck announced that the draft is still subject to review and comment by the SEC. However, the merger is expected to be finalized in either the second or third quarter, pending approval by Thunder Bridge IV’s stockholders.
Following the merger, Coincheck Group B.V. will be renamed Coincheck Group N.V., and the combined entity is slated to be listed on the Nasdaq stock exchange under the ticker symbol CNCK, with Coincheck remaining its wholly-owned subsidiary.
Monex Group, Inc., Coincheck’s parent company, has long sought to list its crypto venture on an American stock exchange through a merger with Thunder Bridge Capital. However, the $1.25 billion agreement has faced repeated delays, pushing back the listing timeline for various reasons.
As part of the agreement, Thunder Bridge will inject $237 million in cash into the combined entity. Gary Simanson, Thunder Bridge’s CEO, is expected to lead the merged enterprise, while Monex will maintain a significant majority stake of 82%.
Summary Review: Coincheck’s plans to go public on Nasdaq by the third quarter through a merger with Thunder Bridge Capital Partners IV mark a significant milestone in the cryptocurrency exchange’s journey. Despite facing delays, the merger agreement, valued at $1.25 billion, underscores Coincheck’s ambition to expand its presence in the American market. With Coincheck poised to become a wholly-owned subsidiary of the newly formed entity listed under the ticker symbol CNCK, Monex Group, Inc. retains a significant majority stake. The injection of $237 million in cash by Thunder Bridge further solidifies the partnership, paving the way for Coincheck’s Nasdaq listing and signaling a new chapter in its growth trajectory.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
