Coincheck is moving forward with a merger agreement with SPAC to list on the US Nasdaq

Japanese crypto exchange Coincheck and special-purpose buyout firm Thunder Bridge Capital Partners IV are moving forward with a merger agreement that will enable Coincheck to list on the Nasdaq. Coincheck has reportedly filed a proposal for the agreement with the Securities Exchange Commission (SEC), marking a significant step for both companies and investors seeking exposure to the growing cryptocurrency industry.
The merged entity, Coincheck Group N.V., is awaiting regulatory approval and shareholder approval. However, last year Monex Group announced a one-year delay in the planned listing of Coincheck, with the merger date pushed back from July 2023 to July 2024. Monex Group said the delay was due to changes to SPAC's articles of association that require shareholder approval. The setback has once again blocked Coincheck's path to a Nasdaq listing.
Under the agreement, Thunder Bridge will inject $237 million in cash into the combined entity to support its further development.