Coincheck Group B.V., a Japanese cryptocurrency exchange, has announced it has received final approval from the U.S. Securities and Exchange Commission (SEC) to list on the Nasdaq Global Market.
SEC Approval
Coincheck Group B.V. is set to list through a merger with Thunder Bridge Capital Partners IV, Inc. (THCP), a company already listed on Nasdaq and created specifically to help private companies go public. This deal was initially announced in March 2022 and has since been updated several times, most recently in October 2024.
Company Structure Change
Before the listing, Coincheck Group B.V., currently registered in the Netherlands as a private company, will change its structure to become a public company named Coincheck Group N.V. This is necessary to meet Nasdaq's trading requirements. Coincheck expects its shares to commence trading under the ticker symbol CNCK on the day following the final closing of the transaction.
Coincheck's Future Steps
A meeting for THCP shareholders is scheduled for December 5, 2024, to vote on the merger. The final closing of the deal is expected around December 10, 2024, after which Coincheck shares will officially be available on Nasdaq. Additionally, Coincheck has filed several forms with the SEC as part of the listing process. Now that the SEC has approved the Form F-4 registration, THCP will send the final voting materials to its shareholders, who will then vote on the merger.
The Nasdaq listing is expected to provide Coincheck new growth opportunities and expand its presence in international markets.
