Western Digital Announces Secondary Offering by Hitachi

@ 2013/11/01
Western DigitalĀ® Corp. announced today an underwritten secondary public offering of 10,869,566 shares of its common stock by Hitachi, Ltd. (the "Selling Stockholder"). The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1,630,434 shares. An aggregate amount of 25 million shares of the company's common stock were issued to the Selling Stockholder in connection with Western Digital's acquisition of Viviti Technologies Ltd., formerly known as Hitachi Global Storage Technologies Holdings Pte. Ltd., in March 2012. Upon completion of the offering, the Selling Stockholder will beneficially own 14,130,434 shares of the company's common stock (12,500,000 shares if the underwriters exercise in full their option to purchase additional shares) and will continue to have two designated directors on the company's board of directors pursuant to the terms of an investor rights agreement between the company and the Selling Stockholder.

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