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Tuesday, January 28, 2025

Equity Corporate Actions Alert #2025 - 38
Spin-Off/Distribution Information for Western Digital Corporation (WDC)

Category:

  • Industry Announcement

Markets Impacted:

Contact Information:

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Western Digital Corporation (WDC) has announced a spin-off of its subsidiary, Sandisk Corporation (SNDKV). The EX distribution when-issued market of Western Digital Corporation (WDCVV) and the when-issued market for Sandisk Corporation (SNDKV) will begin trading on Nasdaq on a date to be announced. The details for the spin-off and when-issued markets are as follows:

Parent Company/Issue: Western Digital Corporation Common Stock
CUSIP: 958102105
Symbol: WDC
Record Date: February 12, 2025
Payment Date: February 21, 2025
EX Date: TBA; Pending effectiveness of Form 10 & satisfaction of pending contingencies
Due Bill Redemption Date: TBA
Ratio of Spin-Off/ Distribution:
 .33333 of a share of Sandisk Corporation Common Stock (SNDKV) for each share held.

An EX distribution when issued market will be established for Western Digital Corporation. Trades in the EX distribution when issued market will not carry due-bills for the spin off/distribution. The details for the EX distribution when-issued market are as follows:

Symbol: WDCVV
CUSIP: TBA
First Trade Date: TBA
Anticipated Suspension Date: TBA
Settlement Date: TBA

A when-issued market will be established for the shares of Sandisk Corporation (SNDKV) on Nasdaq Global Select. The symbol will change to SNDK on a date to be announced. The details for the when issued market are as follows:

Symbol: SNDKV
CUSIP: 80004C200
First Trade Date: TBA
Regular Way Trading Begins: TBA
Settlement Date: TBA

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in WDCVV or SNDKV contact Nasdaq Trading Services at +1 212 231 5100.

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