Western Digital Exchanges $191M of 2028 Convertible Notes for Cash and Stock
WDC has more than doubled off its 52-week low of $76.7.
Summary
Western Digital entered exchange agreements to retire $191 million of 2028 convertible notes for $192.7 million cash plus shares, continuing its debt-reduction program.
Key Events · Financing and Capital Events · WDC
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Convertible Note Exchange
Western Digital agreed to exchange approximately $191.0 million principal amount of its 3.00% Convertible Senior Notes due 2028 for cash and common stock.
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Cash Consideration
Holders will receive approximately $192.7 million in cash, covering the principal amount plus accrued and unpaid interest on the exchanged notes.
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Share Issuance
The number of shares issued will correspond to the remaining conversion value of the notes, calculated using the volume-weighted average price of WDC common stock on August 26, 2026.
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Closing Timeline
The exchange transactions are expected to close on or after September 2, 2026, subject to customary closing conditions.
Analysis · WDC · Technology
Western Digital is retiring $191 million of its 3.00% Convertible Senior Notes due 2028 through privately negotiated exchanges. Holders receive approximately $192.7 million in cash plus shares representing the remaining conversion value, priced off the August 26 VWAP. This follows the $858.4 million convertible debt conversion completed in June 2026 and continues the company's balance-sheet deleveraging. The transaction reduces future interest expense and potential share-count overhang, but the share component adds modest dilution. Closing is expected on or after September 2, 2026.
How filings like this one have moved
In the 30 days to Aug 26, 2026, 29.6% of the 2932 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WDC was trading at $446.94 on NASDAQ in the Technology sector, with a market capitalization of approximately $162.5B. The 52-week trading range was $76.70 to $799.87. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.