Financing ·
Western Digital announced the redemption of all $109.5 million aggregate principal amount outstanding of its 3.00%…
WDCWestern Digital Corp
Western Digital announced the redemption of all $109.5 million aggregate principal amount outstanding of its 3.00% Convertible Senior Notes due 2028 on November 16, 2026. The notes will be redeemed at 100% of the principal plus accrued interest. Holders may convert notes until November 12, 2026, using a conversion rate of 26.5231 shares per $1,000 principal amount. Western Digital expects substantially all holders to convert; unconverted notes will be redeemed for cash. The company has elected a 0% cash percentage for conversions, meaning it will pay cash up to the principal amount and settle any excess obligation in common stock based on a 40-day average price observation period. This event eliminates the outstanding convertible debt.