Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 240

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 10
Chunk 240
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 tax basis equal to the U.S. Holder’s tax basis in the Warrant increased by the amount paid to 
exercise the Warrant.
It is unclear whether a U.S. Holder’s holding period for the Ordinary Share will commence on the date of 
exercise of the Warrant or the day following the date of exercise of the Warrant; in either case, the holding period 
will not include the period during which the U.S. Holder held the Warrant.
If a Warrant is allowed to lapse unexercised, a U.S. Holder will generally recognize a capital loss equal to such 
holder’s tax basis in the Warrant, as applicable.
The tax consequences of a cashless exercise of a Warrant are not clear under current U.S. federal income tax 
law. A cashless exercise may be tax-free, either because the exercise is not a realization event or because the 
exercise is treated as a recapitalization for U.S. federal income tax purposes. In either case, a U.S. Holder’s tax basis 
in the Ordinary Share received will generally equal the U.S. Holder’s tax basis in the Warrant. If a cashless exercise 
is not a realization event, it is unclear whether a U.S. Holder’s holding period for the Ordinary Share received on 
exercise would be treated as commencing on the date of exercise of the Warrant or the following day. If a cashless 
exercise is treated as a recapitalization, the holding period of the Ordinary Share received will include the holding 
period of the Warrant.
It is also possible that a cashless exercise of a Warrant could be treated as a taxable exchange in which gain or 
loss is recognized. In such an event, a U.S. Holder will be deemed to have surrendered Warrants with an aggregate 
fair market value equal to the exercise price for the total number of Warrants to be exercised. The U.S. Holder will 
recognize capital gain or loss in an amount equal to the difference between the fair market value of the Warrants 
deemed surrendered and the U.S. Holder’s tax basis in the applicable warrants. In this case, a U.S. Holder’s tax basis 
in the Ordinary Shares received will equal the sum of the U.S. Holder’s tax basis in the Warrants exercised and the 
exercise price of the applicable warrants. It is unclear whether a U.S. Holder’s holding period for the Ordinary 
Shares would commence on the date of exercise of the Warrants or the day