| Issuer / Guarantor | Cipher Mining Inc |
|---|---|
| Size | USD 1300mn |
| Type | Convertible |
| Leads | Morgan Stanley, Barclays, Cantor Fitzgerald |
| Maturity | 01 Oct 2031 (6 years) |
| Coupon | 0% (0%) |
| Premium | 37.5% (30 - 35%) |
| Calls | NC3; PC @ 130% w table MW |
| Puts | 4yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | 130% to Jun 2031 (5.7 yrs) |
| Announced | 25 Sep 2025 |