Sidley represented Cipher Mining Inc. (CIFR), a Nasdaq-listed leading developer and operator of industrial-scale data centers, in its upsized offering of US$1.3 billion aggregate principal amount of 0.00% convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended; the offering included the full exercise of the initial purchasers’ option to purchase up to an additional US$200 million principal amount of the notes. In connection with the offering of the notes, Sidley also represented CIFR with its entry into privately negotiated capped call transactions with certain of the initial purchasers or their affiliates and certain other financial institutions.
The Sidley team was led by J. David Stewart, Rob Mandell, Prabhat Mehta, and Kostian Ciko (Capital Markets) and included Henry Dickinson and Renyang Gao (Capital Markets) and Nick Brown and Patrick Gray (Tax).
