Cipher Digital Announces Pricing of Private Offering of $850.0 Million of 0.00% Convertible Senior Notes Due 2032 and Concurrent Exchange of Convertible Senior Notes Due 2030
Key Highlights
- ➤Cipher priced $850.0 million of 0.00% convertible senior notes due 2032
- ➤Initial conversion price approximately $15.31, a 35.0% premium to Cipher’s stock price
- ➤Cipher expects approximately $835.1 million in net offering proceeds
- ➤Cipher will exchange $165.9 million of 2030 notes for approximately 40.7 million shares
- ➤Cipher plans $89.7 million for capped calls and remaining proceeds for Barber Lake, HPC build-out, and expansion
NEW YORK, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Cipher Digital Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”), a leading developer, owner and operator of industrial-scale data centers, today announced the pricing of its offering of $850.0 million aggregate principal amount of 0.00% convertible senior notes due 2032 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on October 16, 2026, subject to customary closing conditions. Cipher granted the initial purchasers of the notes a 13-day option to purchase up to an additional $150.0 million aggregate principal amount of notes. Concurrently with the offering, Cipher expects to exchange a portion of its outstanding 1.75% Convertible Senior Notes due 2030 (the “2030 notes”).
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