Company: CIFRW
Filing Date: 2025-10-01
Form Type: 8-K
Source: 0001193125-25-225645
Chunk: 4

Company: Cipher Mining Inc.
Filing Date: 2025-10-01
Form: 8-K
Item: Item 1.01
Chunk 4
---
 Additional Capped Call Transactions,” and, together with the Base Capped Call Transactions, the “ Capped Call Transactions”) with each of the Option Counterparties. The Capped Call Transactions cover, subject to customary anti-dilutionadjustments, the number of shares of the Company’s common stock that initially underlie the Notes. The Capped Call Transactions are generally expected to reduce the potential dilution to the Company’s common stock upon any conversion of the Notes and/or offset any potential cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be with such reduction and/or offset subject to a cap. The cap price of the Capped Call Transactions is initially $23.32, which represents a premium of 100% over the last reported sale price of the Company’s common stock on September 25, 2025. The cost of the Capped Call Transactions was approximately $82.7 million.

The Capped Call Transactions are separate transactions, each between the Company and the applicable Option Counterparty, and are not part of the terms of the Notes and will not affect any holder’s rights under the Notes or the Indenture. Holders of the Notes will not have any rights with respect to the Capped Call Transactions.

The above description of the Capped Call Transactions is a summary and is not complete. A copy of the form of confirmation for the Capped Call Transactions is filed as Exhibit 10.1 to this Current Report on Form8-K, and the above summary is qualified by reference to the terms of the confirmations set forth in such Exhibit.

  Item 2.03      Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.  

The disclosure set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

  Item 3.02.      Unregistered Sales of Equity Securities.  

The disclosure set forth in Item 1.01 above is incorporated by reference into this Item 3.02. The Notes were issued to the initial purchasers in reliance upon Section 4(a)(2) of the Securities Act of 1933, as amended (the “ Securities Act”), in transactions not involving any public offering. The Notes were resold by the initial purchasers to persons whom the initial purchasers reasonably believe are “qualified institutional buyers,” as defined in, and in accordance with, Rule 144A under the Securities Act. Any shares of the Company’s common