NasdaqGS:SNDKTech
Western Digital Exit Reshapes Sandisk Ownership And Dividend Flexibility
Western Digital is continuing to sell down its ownership in Sandisk (NasdaqGS:SNDK) through a large secondary public offering.
The transaction involves only existing shares held by Western Digital, with no new shares issued by Sandisk itself.
A concurrent debt for equity exchange further reshapes Sandisk’s shareholder base and Western Digital’s financial exposure.
The sale is intended to address the legacy ownership overhang tied to Western Digital’s stake in Sandisk.
The move coincides with...