secwatch.observer — SEC 8-K summary
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Issuer:     Cipher Digital Inc. (CIFR)
CIK:        0001819989
Form:       8-K
Filed at:   2025-09-26T23:59:59+00:00
Accession:  0001193125-25-218502
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cipher Mining prices $1.1B 0% convertible notes due 2031; upsized from $800M
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- Upsized offering: $1.1B aggregate principal, 0.00% coupon, matures Oct 1, 2031; initial purchasers have 13-day option for additional $200M.
- Initial conversion price ~$16.03/share (37.5% premium over $11.66 closing on Sept 25, 2025).
- Net proceeds ~$1.08B ($1.27B with option exercise); ~$70M for capped call, balance for Barber Lake data center and HPC strategy.
- Capped call transactions with cap price $23.32/share to mitigate dilution upon conversion.
- Stockholder approval required for settlement in shares if conversion exceeds authorized share count.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819989/000119312525218502/0001193125-25-218502-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819989/000119312525218502/d936051d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-218502

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer