Seagate Technology Closes $185.9M Exchangeable Notes Deal

By Chris Stiles • Thursday, May 28 10:23 • Permanent Link

Seagate Technology Holdings said it closed privately negotiated exchanges involving $185.908 million of its 3.50% exchangeable senior notes due 2028.

In the transaction, holders received $185.908 million in cash plus about 2.02 million ordinary shares of Seagate stock. The company said the notes exchanged in the deal have been retired.

After the exchange, roughly $185.8 million of the notes remain outstanding, with the terms unchanged.

The shares issued were determined over the one-trading-day period beginning May 21, 2026, and the exchanges were completed on May 27, 2026. Following these announcements, the company's shares moved 3.33%, and are now trading at a price of $873.89. For the full picture, make sure to review Seagate Technology's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.