Good Works Acquisition Sets Vote Date on $2B Cipher Mining Technologies Deal

Bitcoin

Good Works Acquisition in an 8-K filing announced an Aug. 25 meeting for stockholders to vote on the proposed merger with Cipher Mining Technologies, a U.S.-based Bitcoin mining company. The SEC has declared effective the registration statement on Form S-4.

Announced in March, the business combination has a $2 billion enterprise value.

The combined company is expected to receive approximately $595 million in cash from a combination of a $425 million fully committed stock PIPE, including a $50 million investment in-kind from Bitfury, and approximately $170 million in cash held in Good Works’ trust account from its October IPO, assuming no public stockholders redeem shares. Read more.

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