Cipher Digital slides on proposed $850 mln convertible notes offering

Cipher Digital

13/10/2026 13:42

** Cipher Digital CIFR.O shares slide 12.46% to $11.38 premarket
** The AI data center operator announces proposed private offering of convertible senior notes worth $850 mln, due 2032 
** Notes carry a 0% coupon, meaning CIFR will pay no regular interest on the debt 
** Initial purchasers have a 13-day option to buy up to an additional $150 mln in notes - CIFR
** Says proceeds to fund capped call transactions, Barber Lake project investment, HPC expansion and general corporate purposes 
** Capped call transactions aim to reduce potential shareholder dilution when the new notes convert into shares, subject to a cap 
** As of last close CIFR down 11.92% YTD

 (Reporting by Jayasree Prabhu)
 ((jayasree.prabhu@thomsonreuters.com))