Western Digital's (WDC) Flash spin-off now in effect (SNDK)

In March 2024, Western Digital Corp (WDC) announced a company separation, to separate its Hard Disk (HDD) and Flash businesses.

Western Digital has split its HDD and Flash business

From the statement:

Announced on October 30, 2023, Western Digital plans to separate its HDD and Flash businesses, creating two independent, public companies with market-specific, strategic focus. The company’s separation will better position each franchise to execute innovative technology and product development, capitalize on unique growth opportunities, extend respective market leadership positions, and operate more efficiently with distinct capital structures.

This separation is now in effect. Shareholders of WDC, who haven't followed the separation news, will be surprised to now find "SANDISK ORD" stock shares in their portfolio.

The reason for this is the following decision:

Each WESTERN DIGITAL CORP stockholder will receive one-third (1/3) of one share of SANDISK CORP common stock for each share of WESTERN DIGITAL CORP common stock held as of the record date for the distribution. The ex-date for the distribution will be February 24, 2025. On February 13, 2025, a when-issued market was established for the shares of SANDISK CORP (SNDKV) on Nasdaq. Regular-way trading will begin on February 24, 2025, and the SANDISK CORP symbol will change to SNDK.

Claudio Kuenzler

Claudio has been writing way over 1000 articles on his own blog since 2008 already. He is fascinated by technology, especially Open Source Software. As a Senior Systems Engineer he has seen and solved a lot of problems - and writes about them.