secwatch.observer — SEC 8-K summary
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Issuer:     Sandisk Corp (SNDK)
CIK:        0002023554
Form:       8-K
Filed at:   2025-02-24T23:59:59+00:00
Accession:  0001193125-25-033433
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.03, 3.03, 5.03, 5.01, 5.02, 5.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sandisk completes spin-off from Western Digital; begins trading on Nasdaq
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- Spin-off completed Feb 21, 2025; distribution of 1/3 share of Sandisk common per WDC share.
- Sandisk common stock (SNDK) began regular-way trading on Nasdaq on Feb 24, 2025.
- WDC retains 19.9% ownership post-spin; Sandisk no longer consolidated in WDC's financials.
- Entered $2.0B term loan (maturing 2032) and $1.5B revolver (maturing 2030); borrowed $2.0B, paid $1.5B dividend to WDC.
- Board expanded to nine directors; David Goeckeler remains CEO and Chair.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2023554/000119312525033433/0001193125-25-033433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2023554/000119312525033433/d849281d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-033433

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