Japanese company Coincheck will enter the Nasdaq via SPAC
The deal will be completed in the second half of 2022
22.03.2022 - 15:00
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What’s new? The Japanese cryptocurrency exchange Coincheck Inc announced its entry into the Nasdaq by merging with the special-purpose acquisition company (SPAC), Thunder Bridge Capital Partners IV Inc, in a $1,25 billion deal. The combined company, Coincheck Group NV, will be listed on the Nasdaq under the ticker “CNCK.” , Today reports.
Information on the Today website
What is the outcome of the agreement? The merged company will receive $237 million in cash, which will be held in the SPAC trust, as a result of the deal. The share of Monex Group, Coincheck’s major shareholder, will be 82%.
What is known about Coincheck? It is one of the largest cryptocurrency exchanges in Japan, headquartered in Tokyo. It is regulated by the Japan Financial Services Agency. The platform has around 1,5 million registered users. According to CoinGecko, the daily trading volume is $130 million.
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