Distribution of 16.1 million Cipher Mining shares to preferred equityholders
Company: Cipher Mining
The claim, verbatim
On January 25, 2024, Bitfury Group transferred 16,127,092 shares of Cipher Mining common stock to subsidiary BGL, which distributed them to certain preferred equityholders in exchange for capital reduction and share premium cancellation, with settlement expected on or before February 5, 2024
Source (primary)
Cipher Mining SC 13D/A filed 2024-01-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the Bitfury Group will (i) transfer, on January 25, 2024, 16,127,092 shares of the Issuer's Common Stock held by Bitfury Top HoldCo to BGL in an intercompany distribution for no consideration, and then (ii) beginning on the same date, BGL will distribute the 16,127,092 shares of the Issuer's Common Stock to certain preferred equityholders of BGL in exchange for a reduction in capital and cancellation of share premium of BGL for such holders. The settlement of the distribution is expected to occur on or before February 5, 2024.”
How we checked this
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Additional evidence
confirms Cipher Mining SC 13D/A filed 2024-01-24
Quote: “the Bitfury Group will (i) transfer, on January 25, 2024, 16,127,092 shares of the Issuer's Common Stock held by Bitfury Top HoldCo to BGL in an intercompany distribution for no consideration, and then (ii) beginning on the same date, BGL will distribute the 16,127,092 shares of the Issuer's Common Stock to certain preferred equityholders of BGL in exchange for a reduction in capital and cancellation of share premium of BGL for such holders. The settlement of the distribution is expected to occur on or before February 5, 2024.”