Cipher Digital Inc. announced that its wholly-owned subsidiary, Stingray Compute LLC, has priced an $810.0 million private offering of senior secured notes. The net proceeds will primarily be used to finance the completion of its "Stingray Facility" data center.
Key Details
- Offering Size: $810.0 million aggregate principal amount of 6.000% senior secured notes due 2031.
- Terms & Timeline: The notes were priced at 99.750% of their principal amount, and the offering is expected to close on June 15, 2026.
- Use of Proceeds: Funds will be used to finance the remaining costs of the Stingray data center, reimburse the parent company for approximately $61.5 million in prior capital expenditures, and fund debt service reserves.