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Coincheck Plans to Go Public on Nasdaq Through Merger with Thunder Bridge Capital Partners IV
Japanese cryptocurrency exchange Coincheck is making significant strides towards going public on Nasdaq by the third quarter. The exchange 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.
Pending approval by Thunder Bridge IV’s stockholders, the merge is expected to be finalized in Q2 or Q3. Upon completion, Coincheck Group B.V. will be rebranded as Coincheck Group N.V., and the combined entity will be listed on Nasdaq under the ticker symbol CNCK, with Coincheck operating as its wholly-owned subsidiary.
Monex Group, Inc., Coincheck’s parent company, has been working towards listing its crypto venture on an American stock exchange through this merger. The agreement, valued at around $1.25 billion, has faced delays but is now progressing towards completion. Thunder Bridge is set to inject $237 million in cash into the merged entity, with Gary Simanson becoming the CEO of the new organization. Monex will retain a significant majority stake of 82%.
Despite the challenges, Coincheck remains profitable and continues to thrive in the cryptocurrency space after overcoming the $432 million NEM hack. This move to go public on Nasdaq signifies a significant milestone for the exchange, opening up new opportunities for growth and expansion in the global market.
