debt
confidence high
sentiment neutral
materiality 0.80
Cipher Digital prices $810M 6.000% senior secured notes due 2031 at 99.750%
Cipher Digital Inc.
- $810M offering of 6.000% senior secured notes due 2031 priced at 99.750% of par; expected close June 15, 2026.
- Proceeds to finance remaining Stingray data center cost, reimburse $61.5M prior equity, fund debt service reserves.
- Subsidiary Stingray Compute LLC issuer; guaranteed by Cipher Stingray LLC and secured by assets and equity interests.
- Cipher provides completion guarantee for Stingray Facility if note proceeds are insufficient.
- Notes sold in private offering to QIBs under Rule 144A and non-US persons under Reg S; not registered.