Western Digital shares are trading lower after the company announced a proposed $1.3 billion convertible notes offering.
Portfolio Pulse from Benzinga Newsdesk
Western Digital has announced a proposed $1.3 billion convertible notes offering, leading to a decrease in its share price.
October 31, 2023 | 12:47 pm
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Western Digital's share price has fallen following the announcement of a $1.3 billion convertible notes offering.
The announcement of a large convertible notes offering often leads to a decrease in share price as it dilutes the value of existing shares. This is likely the reason for the drop in Western Digital's share price.
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