- Cipher Digital plans to sell $850 million of zero-interest convertible senior notes maturing November 1, 2032, to qualified institutional buyers.
- Initial purchasers have an option to buy an additional $150 million of the notes.
- The company is negotiating privately to exchange part of its 1.75% convertible notes due 2030 for common stock, and the investors involved will trade stock in the open market, which can temporarily affect volume and price.
- Proceeds fund capped call transactions, the Barber Lake project, high-performance computing expansion, development sites, and general corporate purposes.
- Shares of Cipher Digital fell 12% on Tuesday following the announcement.
- Source bodies attribute the announcement to October 13, 2026; no primary company source with a dated excerpt is supplied, so the event date is unverified.
Quotes
“Cipher Digital plans to use the newly raised money to fund its Barber Lake project, expand its high-performance computing sites, and cover general corporate expenses.”
Sources
- Cipher Digital stock drops 12% following $850 million debt offeringInvesting
- Cipher Digital Announces Proposed Private Offering of $850.0 Million of 0.00% Convertible Senior Notes Due 2032 and Concurrent Exchange of Convertible Senior Notes Due 2030Markets
- Cipher Digital Announces Major Convertible Notes OfferingTipranks