Seagate ($STX) on Feb 11 agreed to exchange $600M principal of Seagate HDD Cayman’s 3.50% Exchangeable…
Filed with the SEC on · Summarized by InvestorsBot
Seagate ($STX) on Feb 11 agreed to exchange $600M principal of Seagate HDD Cayman’s 3.50% Exchangeable Senior Notes due 2028 for ~ $599.2M cash plus ordinary shares (share count to be determined over 1 trading day starting Feb 12, 2026). Consummation ~ Feb 17. 🔁💰 #Seagate #DebtExchange
Exchanges are privately negotiated with a limited number of noteholders — reduces outstanding note principal but may dilute equity (shares TBD). Company cautions completion and exact terms aren’t guaranteed. ⚠️📉 $STX #InvestorAlert #CapitalStructure
Form of Exchange Agreement filed as Exhibit 10.1 to the 8‑K; investors should review the filing and forward‑looking disclaimers for full terms and risks. 🧾 $STX #SECfilings #8K