MAY 21·TipRanks▲
Seagate Tech Announces Exchange of 2028 Senior Notes
Seagate Technology Holdings plc entered into agreements to exchange $185.908 million in principal amount of its 3.50% Exchangeable Senior Notes due 2028 for an equal amount in cash plus ordinary shares. This transaction, expected to close around May 26, 2026, aims to manage Seagate’s capital structure, retiring the exchanged notes and leaving approximately $185.8 million outstanding on unchanged terms. An analyst has rated STX stock as a Buy with a $1000.00 price target, and TipRanks' AI Analyst Spark rates it as Outperform due to profitability and free cash flow generation.
MAY 21·Business Wire→
Seagate Announces Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
Seagate Technology Holdings plc and its subsidiary Seagate HDD have announced privately negotiated exchange agreements with holders of $185.908 million principal amount of notes. This exchange involves cash and Seagate's ordinary shares, expected to be consummated around May 26, 2026. Following the exchanges, approximately $185.8 million in aggregate principal amount of notes will remain outstanding.
