Crypto exchange Coincheck's Nasdaq listing could be delayed again
|Japanese cryptocurrency exchange Coincheck's plans to list on Nasdaq via a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV faces a possible further delay.
The Thunder Bridge board believes there will not sufficient time to complete the merger by the July 2 deadline, according to a preliminary proxy statement dated May 16. It suggested extending the deadline by up to 12 months, subject to a vote by stockholders.
Coincheck's merger with Thunder Bridge was first announced in March 2022 and was initially expected to be completed in the second half of the year. However, in October, Coincheck said the deadline had been pushed to July 2, 2023.
Mergers with SPACs became a prominent means of firms going public in recent years, however several such slated deals have been hit by delays or cancellations in the last year.
Trading platform eToro, for example, had proposed a merger with FinTech Acquisition Corp. V in March 2021, which was valued at $10.4 billion at the time. However, the deal was terminated last July after the two firms could not agree on closing conditions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.