Summary
Western Digital Corporation (WDC) filed an 8-K on August 26, 2024, reporting the registration for resale of up to 235,000 shares of its Series A Convertible Perpetual Preferred Stock. Additionally, the company registered for resale 10,000,000 shares of its common stock that are issuable upon the conversion of this preferred stock. This filing is a procedural step to enable the resale of these securities in the public market, as outlined in a related prospectus supplement. The company has also filed a legal opinion and consent from Skadden, Arps, Slate, Meagher & Flom LLP as an exhibit to this report. This legal documentation supports the registration statement on Form S-3ASR previously filed by WDC. Investors should note that this 8-K primarily concerns the administrative and legal aspects of making existing securities available for sale, rather than announcing new financial performance, strategic initiatives, or material operational changes.
Key Highlights
- 1WDC registered for resale up to 235,000 shares of its Series A Convertible Perpetual Preferred Stock.
- 210,000,000 shares of WDC common stock issuable upon preferred stock conversion are also registered for resale.
- 3The registration is filed pursuant to a registration statement and prospectus supplement.
- 4The filing includes a legal opinion and consent from Skadden, Arps, Slate, Meagher & Flom LLP.
- 5The legal opinion supports WDC's Registration Statement on Form S-3ASR (File No. 333-281780).
- 6This 8-K is an administrative filing related to existing securities and not a report of new financial results or operational updates.