Seagate announces redemption of exchangeable notes
The company will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028 for cash on September 8, 2026, and noteholders can exchange for shares before Sept 3.
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Mass-capacity data storage provider
seagate.comLast updated
In short: Seagate reported strong financial growth fueled by AI-driven storage demand and reached a $175 million settlement over export violations.
The company will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028 for cash on September 8, 2026, and noteholders can exchange for shares before Sept 3.
The privately negotiated exchanges retired the notes and issued about 2.02 million ordinary shares.
The exchange agreements involve 3.50% Exchangeable Senior Notes due 2028, with expected closing on May 26, 2026.
He highlights disciplined execution and innovation positioning Seagate for long-term growth amid data storage supercycle.
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