Cipher Digital (CIFR) Changes Settlement Method

By Greg Peters • Saturday, October 17 16:11 • Permanent Link

Cipher Digital has changed the default settlement method on two convertible note issues to physical settlement, affecting conversions made on or after Oct. 16, 2026.

For the 1.75% convertible senior notes due 2030, the company said the default settlement method has been switched to physical settlement from the prior default. The same change was announced for the 0.00% convertible senior notes due 2031.

The notices do not disclose any change in principal amount, conversion rate, outstanding balance, or other financial totals. They only specify that notes validly surrendered for conversion from the notice date forward will be settled physically unless the company specifies otherwise in a given conversion. Following these announcements, the company's shares moved 1.01%, and are now trading at a price of $10.04. For more information, read the company's full 8-K submission here.

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