NEW YORK, May 14, 2021 /PRNewswire/ — Cipher Mining Technologies Inc. (“Cipher Mining” or the “Company”), a newly formed U.S.-based Bitcoin mining company, today announced the filing with the U.S. Securities and Exchange Commission (“SEC”) of a registration statement on Form S-4 (the “Registration Statement”), which contains a preliminary proxy statement / prospectus, in connection with its previously announced proposed merger with Good Works Acquisition Corp. (“Good Works”) (NASDAQ: GWAC), a U.S. publicly-traded special purpose acquisition company. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about Cipher Mining, Good Works and the proposed business combination.
Good Works’ common stock is currently traded on Nasdaq under the symbol “GWAC”. In connection with the closing of the transaction, subject to approval, the combined company will be named Cipher Mining Inc. and is expected to be listed on Nasdaq under the new ticker symbol “CIFR”. Completion of the transaction is subject to approval by Good Works’ shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.
In connection with the filing, Cipher Mining also announced the nomination for election of seven members to the proposed Board of Directors of Cipher Mining Inc. (the “Board”) effective upon the closing of the proposed business combination. The proposed Board combines expertise across the traditional finance, energy, and technology sectors, as well as deep experience related to cryptocurrencies and blockchain.
“This announcement marks a key step to becoming a publicly-traded company, and we are thrilled to be making tangible progress on this front,” said Tyler Page, Cipher Mining’s Chief Executive Officer. “Furthermore, we have assembled a best-in-class Board of Directors to be chaired by Jim Newsome, who previously served as Chairman of the U.S. Commodity Futures Trading Commission, and I am pleased to welcome these accomplished professionals to our team. As we prepare to become a publicly-traded company and pursue exciting opportunities as a key participant in the Bitcoin ecosystem, the Board’s diverse backgrounds and relevant industry expertise will be invaluable assets to our management team.”
Upon the closing of the transaction, the following individuals are expected to comprise the Board:
- James “Jim” Newsome (Chairman of the Board)
- Cary Grossman
- Caitlin Long
- Wesley “Bo” Williams
- Holly Morrow Evans
- Robert Dykes
- Tyler Page
“I am honored to partner with this outstanding group and am confident that the Board’s collective wealth of knowledge and experience with public companies will ensure Cipher Mining capitalizes on the major opportunities we see ahead,” said Jim Newsome. “We will focus on providing investors a company that brings best-in-class governance to an emerging industry.”