Loan & DebtJun 8, 2026, 07:21 AM
Cipher Digital Subsidiary to Offer $810M Senior Secured Notes
AI Summary
Cipher Digital Inc. announced that its wholly-owned subsidiary, Stingray Compute LLC, intends to offer $810.0 million aggregate principal amount of senior secured notes due 2031. The private offering is subject to market conditions. The net proceeds will be used to finance the remaining cost of the Stingray Facility data center, reimburse Cipher for approximately $63.6 million of prior equity contributions, and fund debt service reserves. The notes will be fully and unconditionally guaranteed by Cipher Stingray and secured by first-priority liens on substantially all assets of the Issuer and Guarantor.
Key Highlights
- Cipher Digital's subsidiary plans to offer $810.0 million in senior secured notes due 2031.
- Proceeds will finance the remaining cost of the Stingray Facility data center.
- $63.6 million will reimburse Cipher for prior equity contributions to Cipher Stingray.
- Notes will fund debt service reserves.
- Notes are guaranteed by Cipher Stingray and secured by first-priority liens.
- Cipher will provide a completion guarantee for the Stingray Facility.
Price Impact
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