Investing.com UK - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Japanese Crypto Exchange Coincheck Targets US IPO Via $1.3B SPAC Merger with Thunder Bridge

Published 22/03/2022, 17:40
© Reuters. Japanese Crypto Exchange Coincheck Targets US IPO Via $1.3B SPAC Merger with Thunder Bridge
CRCW
-

  • Japanese crypto exchange Coincheck Inc looks to go public in the U.S. via a special purpose acquisition company (SPAC) merger with Thunder Bridge Capital Partners IV Inc (NASDAQ: THCP) in a $1.25 billion deal.
  • The transaction also includes an earn-out of up to 50 million shares.
  • The deal would provide proceeds of $237 million to the combined company.
  • The combined entity named Coincheck Group NV (NASDAQ: CNCK) will trade on the Nasdaq under the symbol "CNCK." The deal will likely close in the second half of this year.
  • Coincheck operates a marketplace for cryptocurrencies and an exchange for digital assets like non-fungible tokens.
  • Coincheck's parent Monex Group, Inc, which currently owns 94.2%, will have a pro forma ownership of 82% of the combined company.
  • Price Action: THCP shares traded higher by 2.07% at $9.85 on the last check Tuesday.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.