Sandisk stock price climbs as Western Digital prices $3.17 billion stake sale; SNDK traders watch the close
Sandisk shares rose 1.7% to $610.80 Thursday morning after Western Digital sold 5.8 million shares at $545 each in a discounted secondary offering. Sandisk will not receive proceeds from the $3.17 billion sale, which is expected to close Feb. 19. Western Digital may sell up to 7.5 million shares total. The offering follows a filing and comes as Western Digital seeks to cut debt.