Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 336

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 336
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-74

COINCHECK GROUP N.V. and its subsidiaries.
NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(UNAUDITED) 7.Reverse Recapitalization (cont.) was a SPAC and did not have any significant activities, Thunder Bridge’s own operations before the succession are insignificant relative to the operations of Coincheck. Thunder Bridge’s financial statements do not report any significant revenues other than investment income on assets held in trust. As such, Coincheck was considered the predecessor entity for purposes of these condensed consolidated interim financial statements. In accordance with IFRS3, Business Combinations, paragraph B22, these condensed consolidated interim financial statements have been prepared as a continuation of Coincheck with: •the assets and liabilities of Coincheck recognized and measured in the condensed consolidated interim financial statements at their carrying amounts immediately prior to the Reverse Recapitalization; •the retained earnings, Ordinary Shares and capital surplus of Coincheck recognized in the condensed consolidated interim financial statements at amounts immediately prior to the Reverse Recapitalization. Ordinary Shares and capital surplus have been adjusted retroactively to reflect the legal capital of Coincheck Parent; and •the comparative information presented in the condensed consolidated interim financial statements are that of Coincheck. Transaction Proceeds Upon closing of the Reverse Recapitalization, the Group received net proceeds of 205 million yen, including 4,780 million yen from the trust, net of redemptions, offset by cash paid for the non -redemptionand share forward agreement (the “ Non -Redemption Agreement”) with Ghisallo Master Fund LP (“ Ghisallo”) (see Note 13 for further details of the non -redemptionand share forward agreement) of 1,593 million yen, and transaction costs and professional fees, paid at closing of 2,982 million yen. The following table reconciles the elements of the Reverse Recapitalization to the condensed consolidated interim statements of cash flows and the condensed consolidated interim statement of changes in equity for the nine months ended December 31, 2024:

|                                                                                                                  |     | -Millions of yen |        |   |
| Cash-trust and cash, net of redemptions                                                                          |     | ¥                |  4,780 |   |
| Less: Ghisallo Non-Redemption Agreement (Note 13)                                                                |     |                  | (1,593 | ) |
| Less: transaction costs and professional fees, paid at closing                                                   |     |                  | (2,982