Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 342

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 342
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IM FINANCIAL STATEMENTS
(UNAUDITED) 11.Financial instruments (cont.) (b)Cash segregated as deposits Cash segregated as deposits includes cash deposited in trust accounts. The carrying amount approximates its fair value. (c)Customer accounts receivable, Other financial assets, Deposits received, and Other financial liabilities The carrying amount of instruments with short -termmaturity approximates their fair value. The fair value of instruments with long -termmaturity is measured using future cash flows discounted by a rate reflecting the counterparty or the Group’s credibility, which is a reasonable approximation of the carrying amount. Derivative assets and liabilities are included in “Other financial assets” under current assets and “Other financial liabilities” under current liabilities, respectively. Derivative assets and liabilities mainly represent cryptocurrency leveraged trading with customers which are measured at the fair value using a valuation technique based on the observable prices in the crypto exchange market. (d)Warrant liabilities As part of Thunder Bridge’s IPO, Thunder Bridge issued private and public warrants to third -partyinvestors where each whole warrant entitled the holder to purchase one share of Thunder Bridge’s Class A common stock at an exercise price of USD 11.50 per share. Simultaneously with the closing of the IPO, Thunder Bridge completed the private sale of warrants where each warrant allowed the holder to purchase one share of Thunder Bridge’s Class A common stock at USD 11.50 per share. In connection with the Reverse Recapitalization, and pursuant to a warrant assumption and amendment agreement, dated as of December 10, 2024, Thunder Bridge private and public warrants were exchanged for Coincheck Parent private and public warrants, respectively, and subject to the same material terms. Upon the completion of the Reverse Recapitalization, there were 4,730,537 public warrants outstanding and 129,611 private warrants outstanding. The warrants expire on the earlier of the fifth anniversary of the Reverse Recapitalization or the date on which Parent may call the public warrants for redemption (a “ Redemption Date”), and will become exercisable at a price of USD 11.50 per share on the date that such underlying Ordinary Shares are registered on an effective registration statement of Coincheck Parent. Coincheck Parent has filed a related Registration Statement on Form F -1that is pending a declaration of effectiveness by the SEC. Coincheck Parent may call the public warrants for redemption on a Redemption Date, in whole and not in part, at a price of USD 0.01 per warrant, at any