Japanese cryptocurrency exchange Coincheck Inc. is planning to list on the Nasdaq through a merger with special purpose acquisition company Thunder Bridge Capital Partners IV Inc., according to CoinTelegraph.
- The merger deal is reportedly $1.25 billion for 125 million shares, with the combined holding company to be called Coincheck Group N.V. It is set to list after the deal is closed in the second quarter of the year.
- The combined firm will receive some $237 million in cash, which will be held in trust by Thunder Bridge IV. The deal has already been approved by the board of Coincheck, its parent firm Monex Group Inc., and Thunder Bridge IV.
- The new firm will serve as a subsidiary of Monex Group Inc., which currently owns 94.2% of Coincheck. The parent company will keep all its shares upon the closing of the deal and will own 82% of the combined entity.
The Monex Group took over Coincheck after a data breach in 2018. 8698 closed up 2.61%, while THCP is up 1.44%.