Cipher Digital Changes Default Settlement Method for Convertible Notes

By Bobby Samwell • Sunday, October 18 16:11 • Permanent Link

Cipher Digital said it is changing the default conversion settlement method on two series of convertible notes to physical delivery of shares, effective 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, meaning notes surrendered for conversion on or after that date will be settled physically unless the company specifies otherwise for a given conversion.

The same change was made for the 0.00% convertible senior notes due 2031, with all notes validly surrendered for conversion on or after Oct. 16, 2026 to be settled using physical settlement unless the company elects another method in connection with a conversion.

The notices do not disclose any dollar amounts, conversion ratios, or other financial metrics, and no prior-period figures were provided for comparison. 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. Check out the company's full 8-K submission here.

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