Loan & DebtMay 21, 2026, 08:46 AM
Seagate Exchanges $185.9M Exchangeable Notes for Cash & Shares
AI Summary
Seagate Technology Holdings and its subsidiary Seagate HDD entered into separate, privately negotiated agreements to exchange $185.908 million principal amount of 3.50% Exchangeable Senior Notes due 2028. The consideration for these exchanges includes an aggregate of $185.908 million in cash and a number of Seagate's ordinary shares. The transactions are expected to be consummated on or about May 26, 2026, and will result in the retirement of the exchanged notes, leaving approximately $185.8 million in notes outstanding.
Key Highlights
- Seagate to exchange $185.908M of 3.50% Exchangeable Senior Notes due 2028.
- Consideration includes $185.908M cash and ordinary shares.
- Exchanges are privately negotiated with a limited number of noteholders.
- Transactions expected to be consummated on or about May 26, 2026.
- Notes exchanged will be retired upon completion.
- Approximately $185.8M in aggregate principal amount of notes will remain outstanding.
- Ordinary shares issued are exempt from registration under Section 4(a)(2).
Price Impact
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