secwatch.observer — SEC 8-K summary
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Issuer:     WESTERN DIGITAL CORP (WDC)
CIK:        0000106040
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001193125-23-267654
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Western Digital prices $1.4B convertible notes due 2028, repurchases $508M of existing 2024 notes
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- Notes bear 3.00% interest, mature Nov 15, 2028; initial conversion price ~$52.20 (30% premium over $40.15 close).
- Net proceeds ~$1.367B; $507M used to repurchase ~$508M aggregate principal of existing 1.50% convertible notes due 2024.
- Entered into capped call transactions with initial cap price $70.2625 per share to reduce dilution upon conversion.
- Option for initial purchasers to buy additional $200M notes; closing expected Nov 3, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/106040/000119312523267654/0001193125-23-267654-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/106040/000119312523267654/d580162d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-267654

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer