Coincheck’s Nasdaq Listing Could Be Delayed Again
A further delay may be in store for Japanese cryptocurrency exchange Coincheck’s intentions to float on Nasdaq through a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV.
According to a preliminary proxy statement dated May 16, the Thunder Bridge board feels there will not be enough time to complete the merger by the deadline of July 2. It advised that the deadline be postponed for up to 12 months, subject to stockholder approval.
The merger of Coincheck and Thunder Bridge was previously projected to be finished in the second half of 2022 when it was first announced in March of that year. However, Coincheck announced in October that the deadline has been extended 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.
(With inputs from Shikha Singh)
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