Loan & DebtJun 9, 2026, 06:07 AM
Cipher Digital Subsidiary Prices $810M Senior Secured Notes at 6.000%
AI Summary
Cipher Digital Inc. announced that its wholly-owned indirect subsidiary, Stingray Compute LLC, priced an offering of $810.0 million aggregate principal amount of 6.000% senior secured notes due 2031. The notes were priced at 99.750% of their principal amount and are expected to close on June 15, 2026. The net proceeds will be used to finance the remaining cost of the Stingray Facility data center, reimburse Cipher Digital for $61.5 million in prior equity contributions, and fund debt service reserves. The notes are secured by assets of Stingray Compute LLC and guaranteed by Cipher Stingray.
Key Highlights
- Stingray Compute LLC, a Cipher Digital subsidiary, priced $810.0 million of 6.000% senior secured notes due 2031.
- The notes were priced at 99.750% of their principal amount.
- The offering is expected to close on June 15, 2026, subject to customary conditions.
- Proceeds will finance the remaining cost of the Stingray Facility data center.
- Approximately $61.5 million will reimburse Cipher Digital for prior equity contributions to Cipher Stingray LLC.
- The notes are secured by first-priority liens on assets of the Issuer and Guarantor.
- Cipher Digital Inc. will provide a customary completion guarantee for the Stingray Facility.
Price Impact
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