Company: CIFRW
Filing Date: 2025-10-01
Form Type: 8-K
Source: 0001193125-25-225645
Chunk: 0

Company: Cipher Mining Inc.
Filing Date: 2025-10-01
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01      Entry into a Material Definitive Agreement.  

Indenture and Notes

On September 30, 2025, Cipher Mining Inc. (the “ Company”) issued $1,300,000,000 aggregate principal amount of its 0.00% Convertible Senior Notes due 2031 (the “ Notes”). The Notes were issued pursuant to, and are governed by, an indenture (the “ Indenture”), dated as of September 30, 2025, between the Company and U. S. Bank Trust Company, National Association, as trustee (the “ Trustee”). Pursuant to the purchase agreement between the Company and the representative of the initial purchasers of the Notes, the Company granted the initial purchasers a13-dayoption to purchase up to an additional $200,000,000 aggregate principal amount of Notes. The Notes issued on September 30, 2025 include the full exercise of such option by the initial purchasers.

The Notes will be the Company’s senior, unsecured obligations and will be (i) equal in right of payment with the Company’s existing and future senior, unsecured indebtedness, including the Company’s existing $172,500,000 principal amount of convertible notes due in 2030; (ii) senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the Notes; (iii) effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries.

The Notes will not bear regular interest, and the principal amount of the Notes will not accrete. The Notes will mature on October 1, 2031, unless earlier repurchased, redeemed or converted. Prior to July 1, 2031, the Notes will be convertible only upon satisfaction of certain conditions and during certain period, and thereafter, the Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Company will settle conversions by paying or delivering, as applicable, cash, shares of its common stock, or a combination of cash and shares of its common stock, at the Company’s election. The Company’s ability to elect to settle conversions in whole or in part