secwatch.observer — SEC 8-K summary
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Issuer:     Seagate Technology Holdings plc (STX)
CIK:        0001137789
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0001193125-23-231165
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seagate issues $1.3B of 3.50% exchangeable senior notes due 2028; refinances debt
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- Seagate HDD Cayman priced $1.3B aggregate of 3.50% exchangeable senior notes due 2028; up to $200M additional over-allotment.
- Notes exchangeable at 12.1253 shares per $1,000 principal (initial exchange price ~$82.47, 30% premium to Sept 7 close of $63.44).
- Capped call transactions entered with cap price $107.8480/share to reduce potential dilution upon exchange.
- Net proceeds of ~$1.1B ($1.3B with over-allotment) will repay existing term loans and senior notes; balance for general corporate.
- Sale expected to close September 13, 2023; notes guaranteed by Seagate and Seagate Technology Unlimited Company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1137789/000119312523231165/0001193125-23-231165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1137789/000119312523231165/d486512d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-231165

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