Brief: Coincheck, Inc. Enters Merger Agreement With Thunder Bridge Capital Partners Iv, Inc.

Coincheck NV

22/03/2022 12:29

March 22 (Reuters) - Thunder Bridge Capital Partners IV Inc  THCP.O :
    * COINCHECK, INC. – A SUBSIDIARY OF JAPAN’S MONEX GROUP – ENTERS DEFINITIVE
MERGER
AGREEMENT WITH THUNDER BRIDGE CAPITAL PARTNERS IV, INC.
    * THUNDER BRIDGE CAPITAL PARTNERS IV INC - RESULTING HOLDING COMPANY WILL BE
NAMED
COINCHECK GROUP, N.V. AND EXPECTS TO BE LISTED ON NASDAQ GLOBAL SELECT MARKET
UNDER TICKER SYMBOL "CNCK"
    * THUNDER BRIDGE CAPITAL - COMBINED HOLDING COMPANY WILL BE LED BY OKI
MATSUMOTO,
AS EXECUTIVE CHAIRMAN, AND GARY SIMANSON AS CHIEF EXECUTIVE OFFICER
    * THUNDER BRIDGE CAPITAL - COINCHECK TO CONTINUE TO OPERATE AND BE LED BY
ITS
CURRENT JAPAN-BASED MANAGEMENT TEAM, INCLUDING COINCHECK PRESIDENT SATOSHI HASUO
    * THUNDER BRIDGE CAPITAL PARTNERS IV INC - PROPOSED TRANSACTION REPRESENTS A
TRANSACTION VALUE OF APPROXIMATELY $1.25 BILLION
    * THUNDER BRIDGE CAPITAL - EXISTING COINCHECK SHAREHOLDERS MAY GET EARN-OUT
CONSIDERATION EQUAL TO MAXIMUM OF 50 MILLION SHARES UPON SOME "TRIGGERING
EVENTS"
    * THUNDER BRIDGE CAPITAL - UPON CLOSING, COMBINED CO WILL RECEIVE $237
MILLION IN
CASH HELD IN TRUST BY THUNDER BRIDGE IV
    * THUNDER BRIDGE CAPITAL PARTNERS IV INC - COINCHECK WILL BE HEADQUARTERED
IN
NETHERLANDS WITH OFFICES IN TOKYO, JAPAN, AND NEW YORK CITY, NEW YORK
    * THUNDER BRIDGE CAPITAL PARTNERS IV - COINCHECK'S PARENT, MONEX GROUP,
INC., OWNS
94.2% OF COINCHECK TODAY AND WILL RETAIN ALL OF ITS EQUITY AT CLOSING
    * THUNDER BRIDGE CAPITAL - MONEX GROUP GETS PRO FORMA OWNERSHIP OF
APPROXIMATELY
82% OF COMBINED COMPANY EXCLUDING EARN-OUTS OR WARRANTS

Source text for Eikon:  ID:nGNX2jbG48 
Further company coverage:  THCP.O 

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