Monday, September 15, 2025

SPAC Good Works II Acquisition Targets US$200 Million IPO

Blank check company Good Works II Acquisition Corp. went public today on the Nasdaq Capital Market under the symbol “GWIIU”. The company is seeking to raise US$200.0 million through its initial public offering.

The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one common share and one-half of a purchase warrant. Each whole warrant is redeemable to purchase one common share at US11.50 per share. The units will be trading under the symbol “GWIIU” but once the securities are separated, the common shares and the purchase warrants will be trading on the Nasdaq big board under the symbols “GWII” and “GWIIW”, respectively.

I-Bankers Securities serves as the sole underwriter for the offering. The company has granted the underwriter a 45-day over-allotment option to purchase additional 3.0 million company units, potentially bringing the offering proceeds to US$230.0 million.

The offering is expected to close on July 14, 2021, subject to customary closing conditions.

On the other hand, sister company Good Works Acquisition Corp. (NASDAQ: GWAC) also announced today an amendment on its proposed acquisition of cryptomining firm Cipher Mining Technologies Inc. The amended statement adjusts the financing contribution from Cipher Mining’s parent company, Bitfury Top HoldCo B.V., to US$50.0 million in cash instead of in-kind. In October 2020, Good Works Acquisition went public through a US$150.0 million initial public offering.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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