Announces Redemption of $109.5M Convertible Senior Notes Due 2028

What did WESTERN DIGITAL CORP announce?

Western Digital announced it will redeem all outstanding 3.00% Convertible Senior Notes due 2028, aggregating $109.5 million.

Key details

• Western Digital will redeem $109,505,000 aggregate principal amount of its 3.00% Convertible Senior Notes due 2028.
• The redemption date is November 16, 2026, with the redemption price equal to 100% of the principal amount plus accrued interest.
• Holders can convert notes until November 12, 2026, at a rate of 26.5231 shares per $1,000 principal amount.
• The company expects substantially all notes to be converted and will settle the conversion obligation with cash up to the principal amount, and common stock for any remainder.

Why it matters

This 8-K reports a financing at WESTERN DIGITAL CORP. The likely share-price reaction reads as neutral.

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All WESTERN DIGITAL CORP SEC filings →