Cipher mining (CIFR) Price a $ 1.08B private offer of a 0.00% convertible senior notes due to 2031, which has risen from $ 800m at first.
Notes, senior unsafe obligations, will be replaced at an initial price of $ 16.03 per part, a 37.5% premium on Thursday $ 11.66 close. Investors may require a purchase in 2029 in PAR, while the Cipher can be redeemed starting at 2028 if 30% share above the conversion price.
The nets of $ 1.08B will fund capped call transactions, the Barber Lake Data Center buildout, and expand 2.4 GW high -performance computing pipelines.
Financing comes as Cipher received yesterday A $ 3B AI Hosting Deal on Google and FluidsTack.
CIFR shares fell as many as 17% on Thursday and. down an additional 1% in premarket trading to $ 11.55.
The decline in stock price Thursday is likely to be driven by Delta’s remedial activity from banks involved in a changing deals in the note, which often forces sharing in the short term as counterparts manage their exposure. Similar price actions occurred following previous strategy offerings and Semler scientific.
