On February 18, 2026, Western Digital Corporation announced its plan to sell all shares of its subsidiary SanDisk, raising approximately $3.09 billion in funds. SanDisk is a flash memory business subsidiary that was spun off by Western Digital nearly a year ago. The share offering is priced between $535 and $555 per share, representing a discount of up to 9.4% from SanDisk's Tuesday closing price of $590.59. Following a confidential roadshow, the share offering has been significantly oversubscribed. Western Digital expects to use the proceeds from the share sale to repay debts owed to affiliates of JPMorgan Chase and Bank of America. The transaction is time-sensitive, as Western Digital must complete the sale within one year of SanDisk's spin-off to avoid tax costs. In after-hours trading, SanDisk's share price fell by approximately 3%, while Western Digital's share price remained largely unchanged.