Western Digital finalized a debt-for-equity exchange on June 8, 2026. The company will issue 21.29 million shares of common stock. This transaction settles approximately $858.4 million in aggregate principal. The exchange involves 3.00% Convertible Senior Notes due in 2028.
This strategic move aims to manage debt obligations and strengthen the balance sheet. The final share count was determined by the average stock price on June 3 and June 4.
Western Digital (WDC) shares increased 3.7% following the announcement. The market reaction suggests positive reception to the company's debt management strategy.