Company: CIFRW
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124285
Chunk: 1

Company: Cipher Mining Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 1
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(s). The initial conversion rate is 224.9213 shares per $1,000 principal amount of notes, which represents an initial conversion price of approximately $4.45 per share, and is subject to adjustment as described in this prospectus supplement. If a “make-wholefundamental change” (as defined in this prospectus supplement) occurs, then we will in certain circumstances increase the conversion rate for a specified period of time. REDEMPTION AND REPURCHASE The notes will be redeemable, in whole or in part (subject to certain limitations described in this prospectus supplement), at our option at any time, and from time to time, on or after May 22, 2028 and on or before the 30th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, but only if the last reported sale price per share of our common stock exceeds 130% of the conversion price on (1) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date we send the related redemption notice; and (2) the trading day immediately before the date we send such notice. In addition, calling any note for redemption will constitute a make-wholefundamental change with respect to that note, in which case the conversion rate applicable to the conversion of that note will be increased in certain circumstances if it is converted after it is called (or deemed called) for redemption. Unless prior to May 15, 2028 we have issued a notice of redemption in respect of all then-outstanding notes, each noteholder will have the right to require us to repurchase such noteholder’s notes (or any portion thereof in an authorized denomination) on May 15, 2028 for cash in an amount equal to the principal amount of the note to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the optional repurchase date. If a “fundamental change” (as defined in this prospectus supplement) occurs, then, except as described in this prospectus supplement, noteholders may require us to repurchase their notes at a cash repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any. RANKING The notes will be