Minimum merger financing requirement
Company: Cipher Mining
The claim, verbatim
Merger closing is conditional upon combined cash proceeds from Good Works trust account and PIPE Financing equaling at least $400,000,000 after deducting redemptions and transaction expenses.
Source (primary)
Cipher Mining 10-Q/A filed 2021-06-14 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “the aggregate cash proceeds from Good Works trust account, together with the proceeds from the PIPE Financing, equaling no less than $400,000,000 (after deducting any amounts paid to Good Works stockholders that exercise their redemption rights in connection with the Business Combination and net of unpaid transaction expenses)”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The document lists this exact $400 million financing condition net of redemptions and transaction expenses.
Confirmed in the source:
- Closing is conditional on combined cash from Good Works' trust account and the PIPE Financing equaling no less than $400,000,000
- The $400,000,000 figure is calculated after deducting redemptions and unpaid transaction expenses
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1819989/000121390021032323/f10q0321a1_goodworksacq.htm) in full (122,139 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Cipher Mining 10-Q/A filed 2021-06-14
Quote: “the aggregate cash proceeds from Good Works trust account, together with the proceeds from the PIPE Financing, equaling no less than $400,000,000 (after deducting any amounts paid to Good Works stockholders that exercise their redemption rights in connection with the Business Combination and net of unpaid transaction expenses)”