Cipher Digital subsidiary plans $810M senior secured notes offering for data center financing

Cipher Digital Inc.

Stingray Compute LLC intends to offer $810M in senior secured notes due 2031 in a private placement.
Net proceeds will finance remaining Stingray facility cost, reimburse $63.6M in equity contributions, and fund debt service reserves.
Notes are guaranteed by Cipher Stingray and secured by substantially all assets of the issuer and guarantor.
Cipher Digital provides a completion guarantee for the Stingray facility if note proceeds are insufficient.
Offering is subject to market conditions; no assurance of completion.

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