Cipher Digital Changes Settlement Method to Physical, Shares Move 1.01%

By Hao Liu • Saturday, October 17 10:56 • Permanent Link

Cipher Digital said it is changing the default settlement method on both of its convertible note issues to physical settlement, affecting conversions submitted on or after Oct. 16, 2026.

For the 1.75% convertible senior notes due 2030, the company said the default settlement method has been changed to physical settlement from the method previously in place under the supplemental indenture. The notes carry a 1.75% coupon and were issued under an indenture dated May 22, 2025.

For the 0.00% convertible senior notes due 2031, Cipher Digital also switched the default settlement method to physical settlement. These notes were issued under an indenture dated Sept. 30, 2025.

In both cases, the company said notes validly surrendered for conversion on or after the notice date will be settled using physical settlement unless the company specifies otherwise in connection with a particular conversion. As a result of these announcements, the company's shares have moved 1.01% on the market, and are now trading at a price of $10.04. If you want to know more, read the company's complete 8-K report here.

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