08:05 AM EDT, 06/06/2025 (MT Newswires) -- Sandisk ( SNDK ) said Friday it priced a secondary offering of about 18.5 million shares at $38.50 per share, up from the 17 million shares it initially proposed.

The shares are being sold by former parent Western Digital (WDC) in a debt-for-equity exchange with affiliates of JPMorgan ( JPM ) and Bank of America ( BAC ) , the company said.

Underwriters have a 13-day option to purchase up to about 2.8 million additional shares.

Western Digital would retain 7.5 million shares of Sandisk ( SNDK ) if the option is fully exercised, the company said.

The offering is expected to close Monday, subject to customary conditions.