As a researcher with a background in finance and experience following the cryptocurrency industry, I’m excited to see Japanese crypto exchange Coincheck and Thunder Bridge Capital taking significant strides toward their merger transaction and Nasdaq listing. The filing of the registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC) is an essential milestone in their journey toward a public offering.
As a crypto investor, I’m excited to share that Coincheck and Thunder Bridge Capital are making significant progress towards finalizing their merger deal and preparing for a Nasdaq listing. This is an important development in the world of cryptocurrency and could potentially lead to increased transparency, liquidity, and institutional investment in the sector. Stay tuned for more updates as this story unfolds.
As a researcher examining recent business developments, I came across an important announcement. On May 7, two companies filed their registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC). This filing represents a significant achievement in their two-year process leading up to a planned initial public offering (IPO).
As a securities analyst, I’ve observed that over the past few months, the involved foreign companies have submitted several confidential drafts of their registration statements to the Securities and Exchange Commission (SEC). This process allows for revisions based on the SEC’s comments. The Form F-4 is a mandatory requirement from the commission for business transactions between domestic and foreign entities.
In March 2022, it was first announced that Coincheck and Thunder Bridge were intending to join forces in a De-SPAC transaction, making the former a publicly traded company with an estimated deal value of $1.25 billion.
As a researcher studying the financial market landscape, I can explain that a De-SPAC transaction refers to a merger between a privately held company and a Special Purpose Acquisition Company (SPAC), which is essentially a shell corporation formed for the sole purpose of acquiring another business. The allure of De-SPAC transactions stems from their potential to offer a more expedited route to going public compared to the traditional Initial Public Offering (IPO) process.
As a crypto investor, I had anticipated that the merger between companies X and Y would be finalized by the second quarter of 2022. However, the unexpectedly harsh bear market and regulatory uncertainties that arose following the fall of FTX in November 2022 most likely pushed back the completion date.
The anticipated merger is now projected to be finalized between the second and third quarters of 2024, contingent upon shareholder consent and approval from the Securities and Exchange Commission (SEC). Once approved, the newly formed company, named Coincheck Group, N.V., will commence operations, with its shares traded on the Nasdaq under the symbol CNCK.
Coincheck ranks among the top crypto exchanges based in Japan. In the first quarter of 2024, its parent company, Monex Group, recorded over 2 billion yen (approximately $14 million) in earnings derived from cryptocurrency trading. Following a significant hack in 2018 that led to the theft of around 534 million dollars’ worth of NEM tokens, Monex took over Coincheck.
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2024-05-08 19:52