Mike Lewis, Jamie Oliver, Lee Gaze, Luke Johnson and Stuart Richardson were horrified when Watkins was charged just eight months after their last album was released.
Lostprophets announced their split shortly afterwards, writing in a statement that they could “no longer continue making or performing music” under the name.
But now, in an effort to move forwards, they are working with Thursday’s former singer Geoff Rickly to make music the latter describes as “a little bit of New Order, little bit of Joy Division, little bit of The Cure”.
The new band’s name and its frontman/woman are yet to be revealed but they will be represented by Rickly’s Collect Records.
Rickly spoke of the “devastating” effect that Watkins’ trial had on Lostprophets during an interview with Radio Cardiff. “I think if ever there was a group of people that needed a second chance, it’s those guys,” he said.
“People don’t really think (about) what happens to the other members. They had to give up everything that they had worked on for 15 to 17 years. They had no idea what was going on, it hit them so hard. I’m really proud of them.”
Lostprophets sold over 3.5m albums worldwide after Watkins founded the band in Pontypridd, Wales, in 1997.