Western Digital (WDC) finalized a secondary offering of 5,821,135 SanDisk shares. The shares were priced at $545.00 each. The total transaction value reached approximately $3.17 billion.
Western Digital executed the sale as a debt-for-equity exchange to reduce its corporate debt. SanDisk received no proceeds from the transaction. The offering closed on February 19, 2026, marking a key step in the separation of the two companies.
Western Digital retains approximately 1.7 million shares for future disposal. The transaction improves Western Digital's balance sheet and financial flexibility. The large-scale sale triggered significant options activity for SanDisk stock.