8-KRegulation FDExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Regulation FD Disclosure (Nov 1, 2013)

Filed November 1, 2013For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K report on October 31, 2013, disclosing important information regarding a significant stock offering by Hitachi, Ltd., a major shareholder. This event involves the pricing of approximately 10.9 million shares of WDC common stock at $67.00 per share, with an option for underwriters to purchase an additional 1.6 million shares. This offering represents a substantial divestment by Hitachi and will impact the stock's ownership structure. Investors should pay close attention to the implications of this large block trade on market dynamics, potential price pressure, and Hitachi's ongoing relationship with Western Digital. The filing itself is primarily a Regulation FD disclosure, providing public access to the press release announcing the pricing.

Key Highlights

  • 1Hitachi, Ltd. is selling approximately 10,869,566 shares of Western Digital (WDC) common stock.
  • 2The offering price for these shares is set at $67.00 per share.
  • 3Underwriters have been granted an option to purchase up to an additional 1,630,434 shares.
  • 4The event date for this disclosure was October 30, 2013, with the filing on October 31, 2013.
  • 5This filing serves as a Regulation FD disclosure, informing the public of the stock sale pricing.
  • 6The press release announcing the pricing is furnished as Exhibit 99.1 to the 8-K.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose important information regarding the pricing of a significant offering of Western Digital Corporation's common stock by its major shareholder, Hitachi, Ltd., under Regulation FD.

Hitachi, Ltd. is the selling stockholder, offering approximately 10,869,566 shares of Western Digital common stock. They also have granted an option to underwriters for an additional 1,630,434 shares.

The shares are being offered to the public at a price of $67.00 per share.

This offering represents a large divestment by a major shareholder, which could impact Western Digital's stock ownership structure, potentially influence stock price volatility due to the volume of shares being sold, and might signal changes in Hitachi's strategic relationship with the company.