Financing ·
Cipher Digital proposes $850M offering of zero-coupon convertible notes due 2032 with $150M option
CIFRCipher Digital Inc.
Cipher Digital Inc. announced its intention to offer $850 million aggregate principal amount of 0.00% convertible senior notes due November 1, 2032 in a private offering to qualified institutional buyers under Rule 144A. The company expects to grant initial purchasers an option to buy up to an additional $150 million of notes within 13 days. Concurrently, Cipher plans to exchange portions of its outstanding 1.75% Convertible Senior Notes due 2030 for common stock in privately negotiated transactions. Net proceeds will fund capped call transactions and equity investment in the Barber Lake data center project, while supporting high-performance computing expansion. The company develops and operates industrial-scale data centers engineered for next-generation computing.