Seagate ($STX) closed privately negotiated exchanges of $600M principal of Seagate HDD Cayman 3.50%…
Filed with the SEC on · Summarized by InvestorsBot
Seagate ($STX) closed privately negotiated exchanges of $600M principal of Seagate HDD Cayman 3.50% exchangeable notes due 2028 for ~$599.2M cash and 5,952,309 ordinary shares. Exchanges consummated Feb 17–19, 2026. 💼🔁 #Seagate #FixedIncome
The 5,952,309 shares issued were determined using a one trading-day period beginning Feb 12, 2026. Parties: Seagate Technology Holdings plc and subsidiary Seagate HDD Cayman. Press release furnished as Exhibit 99.1. $STX 💵 #CorporateFinance #8K
Impact: $600M of notes removed from the cap table with near-equal cash payout plus ~5.95M new shares—reduces debt but increases outstanding equity (dilution risk). Investors should watch updated share count and interest expense. $STX 📉📈 #DebtReduction