GlobeNewsWire
09 Jun 2026, 00:10 UTC · 4h ago
Cipher Digital Inc. Announces Pricing of $810.0 Million of Senior Secured Notes
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GlobeNewsWire
09 Jun 2026, 00:10 UTC · 4h ago
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Cipher Digital's subsidiary, Stingray Compute LLC, has priced a $810 million offering of 6.000% senior secured notes due 2031. — Securing nearly $1 billion in funding provides significant liquidity for growth, though it adds substantial long-term debt obligations.
+0.30Proceeds will be used to finance the remaining cost of the Stingray Facility data center and fund debt service reserves. — Direct investment into HPC infrastructure capacity is a positive growth signal for the company's operational scale.
+0.20Cipher will provide a completion guarantee to fund the Issuer if note proceeds are insufficient to complete the Stingray Facility. — This creates a contingent liability for the parent company, increasing the financial risk if the project exceeds budget.
-0.10Ticker attribution
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The company is successfully pricing a large debt offering to finance the completion of its data center facility.
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