Bitfury spac usbased cipher mining 595m

Cipher Mining and Good Works will host a joint investor call to discuss the proposed transaction and review an investor presentation today, March 5, 2021. An audio webcast of the call will be available on www.netroadshow.com/nrs/home/#!/?show=d8a8c0cd.

To access the audio replay, go to https://www.ciphermining.com/investors.html

Additional information about the proposed transaction, including a copy of the agreement and plan of merger and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Good Works prior to the call, and will be available free of charge on the SEC website at www.sec.gov.

Additional Information about the Business Combination and Where to Find It

In connection with the proposed transaction, Cipher Mining will become the wholly-owned subsidiary of Good Works and Good Works will be renamed Cipher Mining Inc.


The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Good Works’ final proxy statement/information statement/prospectus contained in the Form S-4 registration statement described below, including those under “Risk Factors” therein, the Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by Good Works from time to time with the U.S. Securities and Exchange Commission (the “SEC”).
These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

The proposed transaction will be subject to approval by Good Works’ stockholders and satisfaction, or the waiver of the closing conditions identified in the agreement and plan of merger.

Additional information about the proposed transaction, including a copy of the agreement and plan of merger will be provided in a Current Report on Form 8-K to be filed by Good Works today with the U.S. Securities and Exchange Commission (the “SEC”) and will be available at www.sec.gov.

Advisors

J.P.
Morgan Securities LLC is serving as exclusive advisor and lead placement agent to Good Works, and Wells Fargo Securities, LLC is serving as lead financial advisor to Cipher Mining. Wells Fargo Securities, LLC is also serving as co-placement agent on the PIPE.

Schiff Hardin LLP is acting as legal counsel to Good Works.

Bitfury spac usbased cipher mining 595mb

On March 5, 2021 – bitcoin miner Cipher Mining Inc announced it will go public through a SPAC with Good Works Acquisition Corp in a deal that values the combined company at $2 billion. It will provide the merged entity with gross cash of $595M, which includes $425 million from investors including Fidelity Management & Research Company and Morgan Stanley’s Counterpoint Global.

  • Detailed instructions how to participate in Cipher (pre-IPO, offering price) see below👇

What is an IPO and how it works

IPO is a process of offering shares of a private corporation to the public in a new stock issuance.
Why go public? The primary benefit of going public is easier access to capital.

To go public, a company must have a track record of growth and other favorable results and hire an investment bank (J.P.

Good Works intends to file a registration statement on Form S-4 that will include a proxy statement of Good Works, an information statement of Cipher and a prospectus of Good Works. The proxy statement/information statement/prospectus will be sent to all Good Works and Cipher stockholders as of a record date to be established for voting on the proposed business combination and the other matters to be voted upon at a meeting of Good Works’ stockholders to be held to approve the proposed business combination and other matters (the “Special Meeting”).

Good Works may also file other documents regarding the proposed business combination with the SEC.
This agreement further positions us to become the leading Bitcoin miner in the United States.”

About Standard Power With its partnership with Cipher, Standard Power will be a leading infrastructure service provider for advanced data processing companies and a leading hosting provider for blockchain mining companies. Providing services from early 2019, Standard Power has a pipeline of over 1,000MW of power capacity in development.
Standard Power leverages its infrastructure management expertise to develop data centers that lead the industry in efficiency. As part of its Tier III+ data center designs, Standard Power focuses on technologies that support high performance computing and is one of the first to adopt liquid 2-phase immersion cooling technology.

NEW YORK, May 19, 2021 /PRNewswire/ — Standard Power announced today that it has entered into a contract with Cipher Mining Technologies, Inc. (“Cipher”), a newly formed US-based Bitcoin mining company, to provide hosting capacity that will accommodate 200 megawatts (MW) of power capacity for Cipher’s planned operations. Cipher will also have an option to secure additional hosting capacity to allow for another 100 MW of power capacity.

Cipher was formed by Bitfury Group with a key mission to become the leading U.S.

blockchain mining company. Cipher announced on March 5, 2021 that it had entered into a definitive agreement for a business combination with Good Works Acquisition Corp. (Nasdaq: GWAC) (“Good Works”), a U.S. publicly-traded special purpose acquisition company. As a stand-alone company, Cipher expects to become a U.S.

The Good Works name reflects the fact that its management and directors donated half of their founder shares to charitable organizations in light of the impact that COVID-19 has had on the ability of non-profits to generate contributions and revenues. The Company’s management team consists of Messrs. Fred Zeidman, CEO and Co-Chairman, Douglas Wurth, Co-Chairman, and Cary Grossman, President.

I-B Good Works, LLC, an affiliate of I-Bankers Securities is the sponsor of Good Works. Good Works is a publicly-traded special purpose acquisition company, or SPAC, with approximately $170 million in trust.

Management of Good Works has deep experience in private equity investing, corporate finance and executive level management in a number of industries.
Neither Good Works nor Cipher Mining gives any assurance that either Good Works or Cipher Mining will achieve its expectations.

Non-Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Good Works, Cipher Mining or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Before making any voting decision, investors and security holders of Good Works and Cipher Mining are urged to read the registration statement, the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination.

Participants in the Solicitation

Good Works, Cipher Mining and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Good Works’ stockholders in connection with the proposed transaction.

Leave a Reply

Your email address will not be published.