Thunder Bridge Capital Partners IV in an 8-K said it received notice from the Nasdaq that it is out of compliance with the minimum 400 shareholders rule. The SPAC has 180 days to regain compliance. Thunder Briudge IV said it would submit a plan by Dec. 8.
The SPAC in May amended its merger agreement with Coincheck to extend the deadline to July 2, 2024.
The deal has an implied equity value of $1.25 billion. At announcement in March 2022, the combined company was expected to received $237 million in cash held in trust by Thunder Bridge IV.
Tokyo-based Coincheck is one of Japan’s largest multi-cryptocurrency marketplaces and digital asset exchanges by verified account market share. Read more.
