Japanese crypto exchange Coincheck sets Q3 as deadline for going public on Nasdaq

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As a seasoned crypto investor with a keen interest in the Japanese market, I’ve closely followed Coincheck’s journey towards going public on Nasdaq. The exchange, known for its robust security measures and extensive offerings, has faced its fair share of challenges but remains determined to list on a major American stock exchange.

Coincheck is pushing forward with its merger with Thunder Bridge Capital Partners IV, with plans to hold a public offering on the Nasdaq stock exchange as early as the third quarter.

Japanese cryptocurrency exchange Coincheck has confidentially filed a registration statement with the US Securities and Exchange Commission (SEC) for Form F-4, aiming to move forward with its intended merger with Thunder Bridge Capital Partners IV, Inc., a blank check firm.

In a statement on May 7th, Coincheck announced that the draft of their proposed merger with Thunder Bridge IV is currently under review and open for comment from the SEC. The anticipated completion of this merger is predicted to occur between Q2 and Q3, contingent upon approval from Thunder Bridge IV’s shareholders.

After the merger is finalized, Coincheck Group B.V. will be rebranded as Coincheck Group N.V. The resulting entity is projected to go public on the Nasdaq exchange, using the symbol CNCK. Coincheck will remain a completely owned subsidiary of this new company.

As a crypto investor, I’ve been closely following the developments of Monex Group, Inc., the parent company of Coincheck, and their plans to list their crypto venture on an American stock exchange through a merger with Thunder Bridge Capital. The agreement, valued at around $1.25 billion, is something I’ve been excited about, as it could potentially bring more institutional investment into the crypto space. However, this process has encountered numerous delays, causing the listing timeline to be pushed back repeatedly for various reasons. It’s frustrating, but I remain optimistic that we’ll see progress soon.

Under the terms of the deal, Thunder Bridge is obligated to contribute $237 million in cash to the newly formed company. Furthermore, Gary Simanson, Thunder Bridge’s CEO, is anticipated to assume the role of chief executive officer in the combined organization, whereas Monex will keep a substantial ownership share of approximately 82%.

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2024-05-08 13:34