Cipher Mining (CIFR) priced a $1.08B private offering of a 0.00% convertible senior notes due 2031, upsized from $800M initially. The notes, senior unsecured obligations, are convertible at an initial price of $16.03 per share, a 37.5% premium to Thursday’s $11.66 close. Investors may require repurchase in 2029 at par, while Cipher can redeem starting … Read more
TeraWulf’s (WULF) breakneck rally cooled on Tuesday as the firm increased its convertible note sale to $850 million and announced the pricing of the offering, aimed at funding its data center expansion. The notes will mature in 2031 with 1% annual interest, and will be exchangeable into cash, stock or both at TeraWulf’s election, the … Read more
Bitcoin miner MARA Holdings (MARA) said it plans to raise $850 million through a private sale of 0% convertible senior notes due in 2032. The deal, aimed exclusively at qualified institutional buyers, includes an option for initial buyers to purchase an additional $150 million of the notes, potentially bringing the total raise to $1 billion, … Read more
Disclaimer: The analyst who wrote this article owns shares in Strategy. Strategy’s (MSTR) aggressive bitcoin acquisition strategy has dramatically boosted the value of its convertible debt. With bitcoin steady near its record price and the company’s shares rebounding toward $450, five of the six bonds outstanding are deep in the money, meaning the stock price … Read more