Western Digital Reports Pricing Of Secondary Offering By Hitachi - Quick Facts

(RTTNews) - Western Digital Corp. (WDC) announced the pricing of underwritten secondary public offering of 10.87 million common shares by Hitachi Ltd (HTHIY.PK) or the selling stockholder, at $67.00 per share.

The selling stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1.63 million shares.

Upon completion of offering, the selling stockholder will beneficially own 14.13 million 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.

The company said it will not receive any of the proceeds from the offering of the shares.

Goldman, Sachs & Co. and BofA Merrill Lynch are acting as lead book-running managers and J.P. Morgan Securities LLC is acting as joint book-running manager for the offering.