Seagate Technology Completes $185.908 Million Exchangeable Notes Transaction
Seagate Technology and Seagate HDD Cayman announced that on May 27, the Company closed the previously announced privately negotiated exchanges of $185.908M principal amount of Seagate HDD's 3.50% Exchangeable Senior Notes due 2028 for aggregate consideration consisting of $185.908M in cash and approximately 2.02M ordinary shares of Seagate stock. The number of ordinary shares of Seagate stock issued pursuant to the exchanges was determined over the one trading day period beginning on, and including, May 21, 2026. The exchanged notes have been retired. Approximately $185.8M in aggregate principal amount of notes remain outstanding with terms unchanged.
