Tokyo-based Coincheck, one of Japan’s largest multi-cryptocurrency marketplaces and digital asset exchanges by verified account market share, and Thunder Bridge Capital Partners IV today announced a definitive merger agreement. If the deal is approved, the merged company would be domiciled in the Netherlands, with Coincheck as its wholly-owned subsidiary. Coincheck Group would be listed on the Nasdaq under the ticker symbol CNCK.
The deal represents a transaction value of approximately $1.25 billion. Additionally, existing Coincheck shareholders may receive earn-out consideration of up to 50 million shares upon certain “triggering events” that are based on Coincheck’s future stock price.
If approved, upon closing the combined company will receive $237 million in cash held in trust by Thunder Bridge IV, assuming no redemptions and before expenses.
The deal is expected to be completed in the second half of 2022. Read more.
