Western Digital Finalizes Convertible Note Exchange: 4.65M Shares to Be Issued
WDC has more than doubled off its 52-week low of $77.9.
Summary
Western Digital's 8-K/A discloses that 4,653,572 shares will be issued in the previously announced $191 million convertible note exchange, finalizing the transaction terms.
Key Events · Financing and Capital Events · WDC
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Exchange Share Count Finalized
Western Digital will deliver 4,653,572 shares of common stock as part of the exchange of approximately $191.0 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2028.
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Debt Retirement Continues
The exchange retires $191 million of convertible debt for $192.7 million cash plus the newly disclosed shares, following a similar $858.4 million convertible exchange completed in June 2026.
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Minimal Dilution Impact
The 4.65 million shares represent a small fraction of Western Digital's outstanding share count, consistent with the company's strong cash position and $2.59 billion returned via buybacks in FY2026.
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Amendment Completes Prior Disclosure
This 8-K/A finalizes the share count that was unavailable when the Original 8-K was filed on August 26, 2026, because the number was based on the volume-weighted average price of the stock on that date.
Analysis · WDC · Technology
The share component of Western Digital's $191 million convertible note exchange, announced yesterday, has now been quantified. The 4,653,572 shares to be delivered represent the final piece of the transaction, which retires debt at a modest premium while adding roughly 4.65 million shares to the outstanding count. For a company with a market cap near $167 billion, the dilution is minimal, but the move continues a pattern of proactive balance-sheet management following strong FY2026 results.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.2% of the 2009 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. 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 $457.10 on NASDAQ in the Technology sector, with a market capitalization of approximately $166.6B. The 52-week trading range was $77.90 to $799.87. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.