secwatch.observer — SEC 8-K summary
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Issuer:     Seagate Technology Holdings plc (STX)
CIK:        0001137789
Form:       8-K
Filed at:   2023-09-13T23:59:59+00:00
Accession:  0001193125-23-234372
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seagate issues $1.5B of 3.50% exchangeable senior notes due 2028; initial exchange rate 12.1253 shares per $1,000
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- Principal amount $1.5B ($200M overallotment exercised); notes mature June 1, 2028, interest payable March 1 and Sept 1.
- Initial exchange rate 12.1253 ordinary shares per $1,000 principal; Seagate may cash/shares settle excess.
- Issuer may redeem notes on/after Sept 8, 2026 if stock price ≥ 130% of exchange price for 20 of 30 trading days.
- Seagate entered additional capped call transactions costing $94.5M to hedge potential dilution.
- Notes and underlying shares unregistered, sold under Rule 144A; full and unconditional guarantees from parent and Seagate Technology Unlimited.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1137789/000119312523234372/0001193125-23-234372-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1137789/000119312523234372/d513883d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-234372

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