Cipher Digital Inc. (NASDAQ: CIFR) announced on Monday that its wholly owned subsidiary, Stingray Compute LLC, has priced an $810 million offering of 6.000% senior secured notes due 2031 as the company moves forward with financing a large-scale data center project.<\/p>\n\n\n\n
The notes were priced at 99.750% of their principal amount and are expected to close on June 15, 2026, subject to customary closing conditions.<\/p>\n\n\n\n
According to the company, the securities will be offered in a private placement to qualified institutional buyers under Rule 144A of the Securities Act and to certain investors outside the United States under Regulation S.<\/p>\n\n\n\n
Cipher said the proceeds from the offering will primarily be used to fund the remaining construction costs of the Stingray Facility, a major data center project being developed by the company. A portion of the proceeds will also reimburse approximately $61.5 million in prior equity contributions that were used to finance capital expenditures related to the facility. The remaining funds are expected to be allocated toward debt service reserves.<\/p>\n\n\n\n
The notes will be fully and unconditionally guaranteed by Cipher Stingray LLC, a subsidiary associated with the project. The financing package will be secured by first-priority liens on substantially all assets of the issuer and guarantor, excluding certain designated assets, as well as equity interests held by the parent entity of Stingray Compute LLC.<\/p>\n\n\n\n
As part of the financing arrangement, Cipher Digital will provide a completion guarantee for the Stingray Facility. Under the agreement, the company has committed to supplying additional funding if necessary to ensure the project is completed on schedule in the event that proceeds from the notes prove insufficient.<\/p>\n\n\n\n
The transaction represents one of the larger debt financings announced by the company, and highlights continued investment in infrastructure supporting large-scale computing and data center operations.<\/p>\n\n\n\n
Cipher Digital develops, owns, and operates industrial-scale data centers and computing infrastructure, serving growing demand for high-performance computing and digital infrastructure services.<\/p>\n\n\n\n
The company noted that the offering remains subject to market conditions and customary requirements, and there can be no assurance regarding the final completion or terms of the transaction until closing.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cipher Digital Inc. (NASDAQ: CIFR) announced on Monday that its wholly owned subsidiary, Stingray Compute LLC, has priced an $810 million offering of 6.000% senior secured notes due 2031 as the company moves forward with financing a large-scale data center project. The notes were priced at 99.750% of their principal amount and are expected to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18","post","type-post","status-publish","format-standard","hentry","category-companies"],"_links":{"self":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts\/18","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/comments?post=18"}],"version-history":[{"count":1,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts\/18\/revisions"}],"predecessor-version":[{"id":19,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/posts\/18\/revisions\/19"}],"wp:attachment":[{"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/media?parent=18"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/categories?post=18"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/setenews.com\/index.php\/wp-json\/wp\/v2\/tags?post=18"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}