Western Digital 8-K
Debt financing
Calls 2028 convertible notes for redemption; expects substantially all to convert, with principal paid in cash and any excess in shares.
Filed 2026-09-14 08:00 ET
- 7.01 Regulation FD Disclosure
- 8.01 Other Events
- 9.01 Financial Statements and Exhibits
Summary
Convertible-note redemption. Western Digital called all outstanding 3.00% Convertible Senior Notes due 2028 for redemption on 11/16/2026. The company expects holders to convert substantially all notes before then, but any notes not converted will be redeemed for cash.
Key Figures
- Principal outstanding: $110M; redemption price is 100% of principal plus accrued and unpaid interest through, but excluding, 11/16/2026. Interest scheduled for 11/15/2026 will be paid separately; interest stops accruing after redemption.
- Conversion deadline: 11/12/2026. The conversion rate is 26.5231 shares per $1,000 principal amount, with no additional shares added for the redemption.
- Conversion settlement: cash up to the principal amount converted, with any remaining obligation settled in shares; cash will be paid for fractional shares. No settlement or modification of the related capped call transactions is anticipated.
Investor Takeaways
- The amount converted by 11/12/2026 will determine how much of the called principal is paid in cash at redemption versus settled partly in shares.
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