Coincheck, Inc. and Thunder Bridge Capital Partners IV, Inc. (Nasdaq: THCP) announced today that they have entered into a definitive merger for a business combination, with Coincheck as a wholly-owned subsidiary.
Coincheck’s headquarters will be in the Netherlands, with offices in Tokyo, Japan, and New York City.
Following a transaction close in the second half of 2022, the resulting company expects to get listed on the Nasdaq Global Select Market under the ticker symbol “CNCK.”
Monex Group, Inc, Coincheck’s parent company, currently owns 94.2% of the company and will retain all its equity at closing; pro forma ownership of approximately 82% of the combined company excluding earn-outs or warrants.
If no redemptions occur, the company will receive $237 million in cash held in trust for the combined company by Thunder Bridge IV.
Following the transaction’s completion, the combined holding company will be led by Oki Matsumoto as Executive Chairman and Gary Simanson as CEO. Coincheck will continue to operate and be driven by its current management team in Japan, including Coincheck President Satoshi Hasuo.
“We at Monex have always pursued new opportunities and global expansion. As the digital economic sphere becomes ever-flatter worldwide, it is an inevitable goal for us to develop the origination and exchange of digital assets. To that end, I am excited and fully committed to working with Thunder Bridge IV and Gary and his team, who bring extensive experience in financial services M&A and deep knowledge and experience in global capital markets, to create a new global Coincheck Group, with Coincheck as the cornerstone. Gary continues to inspire me and I am sure we will have a great partnership with him and his team,” said Oki Matsumoto, CEO of Monex Group and Executive Director of Coincheck.
Coincheck, Inc. operates as a digital asset trading service with the most app downloads in Japan for three years and over 1.5 million verified accounts.
With the mission of “facilitating the exchange of new values,” the company continues to develop new products and services based on emerging technologies and advanced security, allowing users to feel at ease and familiar with the “exchange of new values” enabled by digital assets and blockchain.