ConvertibleActive
1.75% Convertible Notes due 2030
CIFR-May30
BTC Holdings
1,433 BTC
Total Debt
$5.21B
Leverage
4488.6%
mNAV
65.64x
Outstanding
$172.50M
Insufficient history
Issue date
2025-05-22
Principal
$172.50M
Coupon
1.75%
Maturity
2030-05-15
Conversion price
$4.45
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- May 15, Nov 15
- Rate type
- Fixed
- Forced conversion
- On or after May 22, 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days; min $50M outstanding required
- Put provision
- Holder put on May 15, 2028 at par plus accrued interest
- Use of proceeds
- Phase 1 of Black Pearl data center, mining rigs, infrastructure capex, general corporate purposes
Sources(1)
- Form 8-K (1.75% convertib…FilingForm 8-K (1.75% convertible notes issuance)Item 1.01Cipher Mining Inc. — 2025-05-22
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2025-05-22 | Issuance | $172.50M Includes $22.5M overallotment exercised in full | Form 8-K (1.75% convertib… |
- 2025-05-22 — $172,500,000Item 1.01 — filing — Cipher Mining Inc.Source