Cipher Mining Inc. announced the pricing of its public offering of $150,000,000 aggregate principal amount of convertible senior notes due 2030. These notes will accrue interest at a rate of 1.75% per annum, payable semi-annually, with a maturity date of May 15, 2030. The initial conversion rate is 224.9213 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $4.45 per share of common stock. This price represents a 30.00% premium over the $3.42 public offering price per share of common stock in the concurrent delta offering. Cipher also granted underwriters a 30-day option to purchase up to an additional $22,500,000 aggregate principal amount of notes to cover over-allotments. Morgan Stanley is acting as the sole bookrunning manager for the offering, with Keefe, Bruyette & Woods as co-manager. The offering is registered under the Securities Act of 1933. For more detailed information, you may find the documents on the SEC's website at www.sec.gov.
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