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

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.

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