secwatch.observer — SEC 8-K summary
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Issuer:     Cipher Digital Inc. (CIFR)
CIK:        0001819989
Form:       8-K
Filed at:   2025-09-25T23:59:59+00:00
Accession:  0001193125-25-216393
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cipher Mining proposes $800M 0.00% convertible notes due 2031, plus $120M option
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- Offering of $800M aggregate principal of 0.00% convertible senior notes due 2031; initial purchasers get 13-day option for additional $120M.
- Notes mature Oct 1, 2031; no regular interest; conversion conditions: prior to July 1, 2031 only upon certain triggers, thereafter anytime.
- Proceeds to fund Barber Lake data center construction, accelerate HPC strategy across 2.4 GW pipeline, expand development sites, and general purposes.
- Company expects to enter capped call transactions to reduce dilution on conversion, subject to obtaining stockholder approval to increase authorized shares.
- Private offering under Rule 144A; notes and underlying shares not registered under Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819989/000119312525216393/0001193125-25-216393-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819989/000119312525216393/d939411d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-216393

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