Coincheck, a Japan-based cryptocurrency exchange, is joining forces with Thunder Bridge Capital Partners IV, Inc. (THCP), a Special Purpose Acquisition Company (SPAC) listed on Nasdaq.
The proposed merger aims to have Coincheck listed as a publicly traded entity on the Nasdaq Global Select Market using the "CNCK" ticker symbol.
THCP recently confirmed that it submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) regarding the partnership with Coincheck. This filing, presented by Coincheck Group B.V., outlines business details and the expected timeframe for completion.
The collaboration between Coincheck and SPAC is anticipated to be finalized between the third and fourth quarters of 2024, pending regulatory approvals and other closing conditions.
Upon completion, Coincheck Group B.V. will be renamed Coincheck Group N.V., establishing it as a publicly traded holding company headquartered in the Netherlands, with Coincheck as its wholly-owned subsidiary.
Coincheck, known for its digital exchange platform with over 1.98 million accounts, aims to expand its global presence and access the Nasdaq market through this initiative. Meanwhile, Thunder Bridge Capital Partners IV specializes in financial sector mergers and acquisitions.
In 2023, Coincheck faced a setback when its parent company, Monex Group, announced a one-year delay in its public listing.
Initially scheduled for completion by July 2, 2023, the planned merger was rescheduled to July 2, 2024. Monex Group confirmed this postponement during a shareholders' meeting in June 2023, citing an amendment to the SPAC's certificate of incorporation. While the reasons for the delay were not disclosed, speculation emerged about potential challenges in obtaining shareholder approval. This delay marked the second instance of postponement for Coincheck's Nasdaq listing.
May 2024, Cryptoniteuae