Seagate exchanges $600M of 3.50% Notes due 2028 for $599.2M cash and shares

Seagate Technology Holdings plc

Entered exchange agreements for $600M principal of 3.50% Exchangeable Notes due 2028.
Consideration: ~$599.2M cash plus ordinary shares to be determined over one trading day starting Feb 12, 2026.
Closing expected on or about Feb 17, 2026; ~$400M in notes will remain outstanding.
Notes exchanged will be retired; transaction is a private placement under Section 4(a)(2).

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Seagate Technology Holdings plc issued common stock to a limited number of holders of Seagate HDD’s 3.50% Exchangeable Senior Notes due 2028 for $600 million principal amount of notes.

Security: common stock
Purchaser: a limited number of holders of Seagate HDD’s 3.50% Exchangeable Senior Notes due 2028
Consideration: $600 million principal amount of notes

Exact text from the filing

Seagate Technology Holdings plc (NASDAQ: STX) (“Seagate” or “us”) and Seagate HDD Cayman, a subsidiary of Seagate (“Seagate HDD”) today announced that on February 11, 2026, they entered into separate, privately negotiated exchange agreements with a limited number of holders of Seagate HDD’s 3.50% Exchangeable Senior Notes due 2028 (the “notes”) to exchange (collectively, the “exchanges”) $600 million principal amount of notes for consideration consisting of an aggregate of approximately $599.2 million in cash and a number of Seagate’s ordinary shares

View on SEC.gov

Browse all equity issuances →

Seagate Technology Holdings plc filing history →

Source: SEC EDGAR

accession 0001193125-26-047755

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.