Feb 17, 2026 (MarketLine via COMTEX) --
Sandisk Corporation announced the launch of a secondary public offering totaling $3,085,774,648 of common stock owned by its former parent, Western Digital Corporation; Sandisk will not receive proceeds from the sale or from the related debt-for-equity exchange.
Sandisk Corporation (Nasdaq: SNDK) (the "Company" or "Sandisk") announced today the launch of a secondary public offering (the "Offering") of $3,085,774,648 of shares of its common stock (the "SNDK Shares") currently owned by Western Digital Corporation, the Company's former parent ("WDC"). Sandisk is not selling any shares of common stock and will not receive any proceeds from the sale of the SNDK Shares in the Offering or from the debt-for-equity exchange (described below).
Prior to the closing of the Offering, WDC is expected to exchange the SNDK Shares for certain indebtedness of WDC held by affiliates of J.P. Morgan Securities LLC and BofA Securities (such affiliates, the "debt-for-equity exchange parties"). Upon the consummation of the debt-for-equity exchange, WDC is expected to deliver the SNDK Shares, at the request of the debt-for-equity exchange parties, to J.P. Morgan Securities LLC and BofA Securities, in their capacity as selling stockholders in the Offering (in such capacity, the "Selling Stockholders"). Following the debt-for-equity exchange, if consummated, the Selling Stockholders intend to sell the SNDK Shares to the underwriters in the Offering.
J.P. Morgan Securities LLC and BofA Securities are acting as the joint lead book-runners for the Offering and the representatives of the underwriters of the Offering.
The Offering is being made pursuant to the Company's effective shelf registration statement on Form S-3, including a base prospectus, filed with the Securities and Exchange Commission (the "SEC") and a prospectus supplement relating to the Offering.
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COMTEX_477433667/2227/2026-04-17T12:29:01
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