Coincheck Inc., a cryptocurrency exchange based in Japan with over 1.5 million verified customers, plans to list on the NASDAQ after completing a transaction this year in the second quarter. It's a merger between Thunder Bridge Capital Partners IV, Inc. and a special purpose acquisition company (SPAC).
Coincheck Inc's project has already been approved.
SPACs are publicly traded companies that do not engage in any commercial activity. They sell their stock to the public in order to raise funds for the future purchase of a private company. It is for this reason that Coincheck Inc. intends to use a SPAC.
In the case of Coincheck Inc.'s planned transaction, the value is estimated at $1.25 billion for 125 million actions, and the combined holding company will get $237 million in Thunder Bridge IV-seized currency at the conclusion of the transaction.
At this time, it is hard to say whether the operation will go smoothly. Nonetheless, it is known that his idea has already been approved by the Coincheck Board of Directors, Coincheck's parent company, Monex Group, Inc., and Thunder Bridge IV.
The popularity of SPAC is increasing.
Following a data breach in 2018, the cryptocurrency exchange Coincheck was purchased by Monex Group for $33.5 million. Remember that Monex Group, Inc. owns 94.2% of Coincheck and will keep all of its assets at the end of the year.
Coicheck isn't the only company to consider a stock exchange listing through a SPAC merger. Several cryptomonnay service providers and other businesses have already used this SPAC fusion technology as of 2021. Bakkt, for example, debuted on the stock exchange through a SPAC, while another $3 billion company chose a SPAC merger with many others.
Many market analysts believe that the high popularity of SPAC fusions stems from its specific advantages over other methods of financing and liquidity. SPACs often provide higher valuations, lower dilution, faster funding, more certainty, and less regulatory requirements than traditional IPOs.
Coincheck Inc., a cryptocurrency exchange based in Japan, plans to list on the NASDAQ. As a result, she plans to complete a merger of a special purpose acquisition company (SPAC) with Thunder Bridge Capital Partners IV, Inc. by the end of the second quarter of this year. As a result, she hopes to be able to get the funds she requires to achieve her goal.
Source : cointelegraph
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