Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Western Digital (WDC) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (8694)	2/5/1998 9:16:00 AM
From: Wowzer	Read Replies (1) \| Respond to of 11057

News release, looks like further dilution down the road. Company Press Release SOURCE: Western Digital Corporation Western Digital Announces Offering of Convertible Subordinated Debentures IRVINE, Calif., Feb. 5 /PRNewswire/ -_ Western Digital Corporation (NYSE: WDC - news) announced today that it intends, subject to market and other conditions, to raise up to approximately $275 million (excluding the proceeds of an over-allotment option, if any) through a private offering of zero coupon convertible subordinated debentures to certain qualified institutional investors. The Company stated that it intends to use the net proceeds of the offering for general corporate purposes, including working capital. No other terms were disclosed. The offered securities will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities law or available exemptions from such registration requirements. Sale of the debentures is subject to market and other conditions, and there can be no assurance that any debentures will be sold or that the net proceeds of any sale will not be lower than anticipated. SOURCE: Western Digital Corporation