Western Digital Corp Files 8-K

TL;DR

WD files 8-K, new material agreement signed.

AI Summary

On March 3, 2024, Western Digital Corporation entered into a Material Definitive Agreement. The company also reported other events on this date. Further details regarding the specific agreement and events are not provided in this excerpt.

Why It Matters

This filing indicates significant corporate activity for Western Digital, potentially involving new agreements or material changes that could impact its business operations and stock.

Risk Assessment

Risk Level: medium — Filings of this nature often contain information about significant business transactions or events that could lead to stock price volatility.

Key Players & Entities

• WESTERN DIGITAL CORPORATION (company) — Registrant
• Delaware (jurisdiction) — State of Incorporation
• March 3, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 Par Value Per Share WDC The Nasdaq
• $624 million — uity interest of SDSS for approximately $624 million based on a valuation of SDSS of $780 mi
• $780 million — million based on a valuation of SDSS of $780 million. Payment will be made over five years a
• $218.4 million — be made over five years as follows: (i) $218.4 million will be paid shortly after the Closing,
• $187.2 million — ng the Closing, and (iii) the remaining $187.2 million will be paid in five equal installments
• $37.44 million — l be paid in five equal installments of $37.44 million over the next five years following the
• $10 million — ther a termination fee in the amount of $10 million. In the event the Equity Purchase Agree

Filing Documents

• d801542d8k.htm (8-K) — 37KB
• g801542g0302093827769.jpg (GRAPHIC) — 7KB
• 0001193125-24-056949.txt ( ) — 177KB
• wdc-20240303.xsd (EX-101.SCH) — 3KB
• wdc-20240303_lab.xml (EX-101.LAB) — 17KB
• wdc-20240303_pre.xml (EX-101.PRE) — 11KB
• d801542d8k_htm.xml (XML) — 3KB

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of federal securities laws, including statements regarding expectations about the Transaction, including timing of the expected Closing, use of proceeds from the Transaction and supply of product to WD Buyer under the Supply Agreement and impact of the transaction on the Company's operating expenses, capital expenditures and cost of revenue. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include: the risk that a condition to the Closing may not be satisfied (or waived); the ability of each party to consummate the Transaction; that either party may terminate the Equity Purchase Agreement or that the Closing of the Transaction might be delayed or not occur at all; a failure to (or delay) in receiving PRC anti-trust approval of the Transaction; possible disruption related to the Transaction to the Company's current plans or operations, including relationships with customers; the response of competitors to the Transaction; the Company's ability to realize the expected benefits from the Transaction, including increased future cash flow via lower capital expenditures, operating expenses and working capital; the Company's ability to satisfy manufacturing needs for its products after the initial term of the Equity Purchase Agreement; and other risks and uncertainties listed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 10-K filed with the SEC on August 22, 2023 and Quarterly Reports on Form 10-Q filed with the SEC on November 7, 2023 and February

View Full Filing

View this 8-K filing on SEC EDGAR