Seagate completes $600 million exchangeable notes transaction
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Seagate Announces Closing of Exchanges with Holders of $600 Million Principal Amount of Exchangeable Notes
February 19, 2026 5:02 PM ESTSINGAPORE--(BUSINESS WIRE)-- Seagate Technology Holdings plc (NASDAQ: STX) (Seagate or Company) and Seagate HDD Cayman, a subsidiary of Seagate (Seagate HDD), today announced that on February 19, 2026, the Company closed the previously announced privately negotiated exchanges (the exchanges) of $600 million principal amount of Seagate HDDs 3.50% Exchangeable Senior Notes due 2028 (the notes) for aggregate consideration consisting of approximately $599.2 million in cash and approximately 5.95 million 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, February 12, 2026. The exchanged... More
