secwatch.observer — SEC 8-K summary
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Issuer:     Cipher Digital Inc. (CIFR)
CIK:        0001819989
Form:       8-K
Filed at:   2026-10-16T21:26:24+00:00
Accession:  0001193125-26-424297
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Cipher Digital prices $850M 0.00% convertible notes due 2032; swaps $165.9M of 2030 notes for 40.7M shares
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- $850.0M 0.00% convertible senior notes due Nov 1, 2032; initial conversion price ~$15.31/share (65.3211 shares per $1,000 principal).
- Concurrent 2030 notes exchange retired ~$165.9M of 1.75% converts for ~40.7M shares; ~$6.6M of 2030 notes remain outstanding.
- Capped call transactions cost ~$89.7M with initial cap price $28.35, a 150% premium to the Oct 13, 2026 closing price, to offset dilution.
- Notes redeemable for cash on/after Nov 5, 2029 if stock exceeds 130% of conversion price; holders may require repurchase Nov 1, 2030.
- Default settlement method switched to physical settlement for outstanding 2030 and 2031 convertible notes for conversions on/after Oct 16, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819989/000119312526424297/0001193125-26-424297-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819989/000119312526424297/d313847d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-424297

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