Seagate Technology Holdings plc (STX) executed private Exchange Agreements on November 4, 2025, concerning its 3.50% Exchangeable Senior Notes due 2028.
The transaction involved retiring \(500 million in aggregate principal amount of these notes. In exchange, investors (Qualified Institutional Buyers) receive approximately \)503.4 million in cash plus a variable number of new ordinary shares. This issuance is structured as a private placement under Section 4(a)(2) and Rule 144A, meaning the Exchange Shares are unregistered under the Securities Act of 1933. The Company warrants these shares will
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