Sidley represented Cipher Mining Inc. (CIFR), a Nasdaq-listed leading developer and operator of industrial-scale data centers for bitcoin mining and HPC hosting, in a SEC-registered offering of US$172.5 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2030, which included the full exercise of the underwriters' option to purchase up to an additional US$22.5 million principal amount of the Notes. In connection with the offering of the Notes, Sidley also advised CIFR in the concurrent offer and short sale of 17,540,000 shares of CIFR’s common stock by Morgan Stanley & Co. LLC to facilitate hedging transactions by certain investors of the Notes.
The cross-practice and cross-jurisdictional Sidley team was led by David Stewart, Rob Mandell, and Nick Brown; supported by Kostian Ciko, Jennifer Lin, Stephanie Yang, and Renyang Gao (Capital Markets), and Ryan Kelly and Patrick Gray (Tax).
