Seagate calls $1B exchangeable notes for redemption, potential share dilution ahead

Filed June 11, 2026 · Period ending June 11, 2026 · ~1 min read

Key Changes

• high

  Seagate subsidiary calling all 3.50% Exchangeable Senior Notes due 2028 for redemption on September 8, 2026. Noteholders can exchange for shares at 12.1363 shares per $1,000 note or receive cash at par plus interest.

  Item 8.01 verify on EDGAR →
• high

  Exchange settlement will be cash for principal amount plus shares for excess value, creating potential dilution for existing shareholders depending on how many noteholders choose to exchange versus redeem.

  Item 8.01 verify on EDGAR →
• medium

  Exchange rate will be adjusted on June 25, 2026 to account for previously announced $0.74 per share dividend. Noteholders have until September 3, 2026 to decide whether to exchange or accept cash redemption.

  Item 8.01 verify on EDGAR →