GWAC - Financiers launch new SPAC after first one cuts $2B deal for bitcoin miner Cipher

March, 19 2021 02:10 PM Good Works Acquisition Corp.

A Houston investing team whose first SPAC recently agreed to buy bitcoin miner Cipher Mining Technologies Inc. at a $2B valuation is launching a $200M IPO for a second special purpose acquisition company.Financiers Fred Zeidman, Douglas Wurth and Cary Grossman filed an S-1 with the U.S. Securities and Exchange Commission to sell 20M investing units for new SPAC Good Works II Acquisition Corp. (GWII.U).The sponsors plan to sell the units at $10 apiece, with each consisting of one Class A share and 0.33 warrants to buy a second share in the future at $11.50.The team is also granting the SPAC’s underwriter the option to buy 3M additional units for overallotments, potentially raising another $30M.Additionally, funds and accounts managed by Glazer Capital LLC, Magnetar Financial LLC, Mint Tower Capital Management B.V., Periscope Capital, Inc. and Polar Asset Management Partners Inc. have agreed to serve as anchor investors. They’ll invest $3.5M for

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Financiers launch new SPAC after first one cuts $2B deal for bitcoin miner Cipher

Company Name:	Good Works Acquisition Corp.
Stock Symbol:	GWAC
Market:	NASDAQ

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