Coincheck Targets Q3 Nasdaq Listing Amid Merger with Thunder Bridge Capital

Coincheck Moves Closer to Nasdaq Listing with Thunder Bridge Capital Merger

Coincheck, a prominent Japanese cryptocurrency exchange, is progressing with its merger with Thunder Bridge Capital Partners IV, aiming for a Nasdaq listing by Q3. On May 7, Coincheck announced that it has submitted a confidential draft registration statement on Form F-4 to the U.S. Securities and Exchange Commission (SEC) to advance this plan.

The draft is currently under review and open for comment by the SEC. The merger is expected to be finalized in Q2 or Q3, subject to approval from Thunder Bridge IV’s shareholders.

Upon completion, the new entity will be named Coincheck Group N.V., and it will be listed on Nasdaq under the ticker symbol CNCK. Coincheck will operate as a wholly-owned subsidiary of the newly formed company.

Monex Group, Inc., the parent company of Coincheck, has been working towards listing its crypto venture on an American stock exchange through this merger, which is valued at around $1.25 billion. The process has faced several delays, extending the timeline for various reasons.

As part of the merger agreement, Thunder Bridge will contribute $237 million in cash to the new entity. Gary Simanson, the CEO of Thunder Bridge, is slated to become the head of the merged company, while Monex will retain a significant majority stake of 82%.

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