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GlobeNewswire·

Cipher Digital Inc. Announces Proposed Offering of $810.0 Million of Senior Secured Notes

  • Cipher Digital Inc. announced that its subsidiary Stingray Compute LLC intends to offer $810.0 million in senior secured notes due 2031.
  • The private offering targets qualified institutional buyers under Rule 144A & non-U.S. persons under Regulation S.
  • Net proceeds will finance the remaining cost of the Stingray Facility, reimburse approximately $63.6 million in prior equity contributions, & fund debt service reserves.
  • The notes are fully guaranteed by Cipher Stingray & secured by first-priority liens on Issuer/Guarantor assets & equity interests.
  • Cipher Digital will provide a completion guarantee to fund the Stingray Facility if note proceeds prove insufficient.
  • The offering remains subject to market conditions with no assurance regarding completion or final terms.
  • Notes are unregistered & restricted to sales under specific Securities Act exemptions.