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On February 18, 2026, SanDisk made public its plans to launch a substantial secondary market stock offering, amounting to a total of $3.08 billion. This offering will take the form of common shares to be sold by current shareholders. Western Digital intends to utilize SanDisk's shares as a means to swap out its existing debt through a debt-to-equity swap mechanism. However, the precise scale of the debt involved, the exchange ratio, and the exact timeline for the completion of the transaction remain undisclosed. It is important to note that SanDisk itself will not be selling any shares nor will it be receiving any proceeds from this particular transaction. In the meantime, investors are reminded that the market is inherently risky, and thus, investments should be approached with due caution.
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