Coincheck Group (CNCK) said Wednesday that Japanese telecommunications company KDDI has completed its strategic investment in Coincheck.
The deal involved KDDI receiving 28.5 million newly issued Coincheck shares at $2.28 each for a total purchase price of $65 million, or a 14.9% stake, Coincheck said.
The company said KDDI will receive registration rights for the acquired shares and has the right to nominate a non-executive director to join the company's board.
Shares of Coincheck were up 1.7% in recent Wednesday premarket activity.