Pledge-enabled lock-up waiver with lock-up period expiration
Company: Cipher Mining
The claim, verbatim
Cipher Mining waived transfer restrictions in lock-up agreements to permit Bitfury entities to pledge up to 100% of their lock-up shares as collateral for loans with 25% maximum loan-to-value ratio, with the lock-up period ending November 26, 2023
Source (primary)
Cipher Mining SC 13D/A filed 2022-04-12 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Pursuant to the Waiver, the Issuer waived certain transfer restrictions... permits the Stockholders to... pledge or otherwise hypothecate up to one hundred percent (100%) of the Lock-up Shares... any loan... must have an initial twenty-five percent (25%) maximum loan-to-value ratio. Effective as of the date of consummation of any pledge or hypothecation... the Lock-Up Period... will mean the period... and ending on November 26, 2023.”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Cipher Mining SC 13D/A filed 2022-04-12
Quote: “Pursuant to the Waiver, the Issuer waived certain transfer restrictions... permits the Stockholders to... pledge or otherwise hypothecate up to one hundred percent (100%) of the Lock-up Shares... any loan... must have an initial twenty-five percent (25%) maximum loan-to-value ratio. Effective as of the date of consummation of any pledge or hypothecation... the Lock-Up Period... will mean the period... and ending on November 26, 2023.”