Cipher Digital Changes Settlement Method to Physical

By Greg Peters • Sunday, October 18 10:56 • Permanent Link

Cipher Digital changed the default settlement method on two convertible note issues, shifting both to physical settlement on Oct. 16, 2026.

For the 1.75% convertible senior notes due 2030, the company said any notes validly surrendered for conversion on or after that date will now be settled using physical settlement unless Cipher specifies otherwise for a particular conversion.

The same change was made for the 0.00% convertible senior notes due 2031, with conversions submitted on or after Oct. 16, 2026 also moving to physical settlement unless the company elects a different settlement method in a specific case.

The notices apply to the company’s two outstanding convertible note series: the 1.75% notes due 2030 and the 0.00% notes due 2031. Following these announcements, the company's shares moved 1.01%, and are now trading at a price of $10.04. Check out the company's full 8-K submission here.

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