- 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 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 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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