Coincheck to list on Nasdaq via $1.25 billion SPAC deal with Thunder Bridge Capital Partners IV

The Japanese cryptocurrency exchange Coincheck said it plans to obtain Nasdaq listing in the second quarter via a SPAC deal worth $1.25 billion with Thunder Bridge Capital Partners IV (THCP).

Japanese cryptocurrency exchange Coincheck Inc will be listed on Nasdaq in New York at a valuation of $1.25 billion through a SPAC, Reuters reported. 2021 figures show Coincheck has 1.2 million registered users. ​​​​ https://t.co/BIw4jQaVKM

— Wu Blockchain (@WuBlockchain) March 22, 2022

The deal is expected to close in the second quarter. The shares will trade under the ticker CNCK.

The combined company is valued at $1.25 billion. The stake of Coincheck’s controlling shareholder, Monex Group, will be 82%. THCP will provide $237 million in cash.

In press release the regulated FSA platform serves 1.5 million verified clients, offering the largest number of crypto assets among Japanese exchanges and the opportunity to participate in IEO.

In 2018, Coincheck was the victim of one of the largest hacks in cryptocurrency history. More than half a billion dollars in NEM cryptocurrency were stolen from the platform.

As reported in January, the cryptocurrency exchange Apifiny announced that it would list on Nasdaq via a SPAC deal.

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