secwatch.observer — SEC 8-K summary
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Issuer:     Cipher Digital Inc. (CIFR)
CIK:        0001819989
Form:       8-K
Filed at:   2026-02-11T23:59:59+00:00
Accession:  0000950103-26-001966
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cipher subsidiary closes $2.0B 6.125% senior secured notes offering due 2031
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- $2.0B aggregate principal of 6.125% Senior Secured Notes due 2031 issued at 100% par by Black Pearl Compute, wholly-owned Cipher subsidiary.
- Notes mature Feb 15, 2031; interest payable semiannually starting Aug 15, 2026; amortization begins after Black Pearl Facility completion.
- Proceeds to finance remaining construction of Wink, TX HPC data center, reimburse Cipher $232.5M for prior equity, fund reserves, and fees.
- Cipher provides a completion guarantee to fund any shortfall if note proceeds and available funds insufficient to complete the facility.
- Notes are senior secured obligations; indenture includes customary covenants limiting additional debt, dividends, investments, and liens.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/0000950103-26-001966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819989/000095010326001966/dp241421_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-001966

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