IPO - unknown

Form Type: S-1/A

Filing Date: 2025-05-02

Corporate Action: Ipo

Type: Update

Accession Number: 000119312525110314

Filing Summary: This document is an amendment to Sandisk Corporation's registration statement under the Securities Act of 1933. It is primarily focused on the offering of up to 28,827,787 shares of common stock by Western Digital Corporation (WDC), which is the selling stockholder. The offering is part of WDC's strategy to dispose of its Sandisk shares to meet outstanding debt obligations under a loan agreement. The separation and distribution of Sandisk from WDC occurred on February 21, 2025, where WDC distributed 80.1% of Sandisk's common stock to its shareholders. The document outlines the risks associated with the offering, market conditions, and the operational strengths of Sandisk, which specializes in NAND flash storage technology with a diverse product portfolio catering to various end markets. The shares are registered under the Nasdaq symbol 'SNDK' and the document affirms that Sandisk does not expect to receive proceeds from the sale of shares as they are offered by WDC. Key financial data and an overview of the company's market position in the data storage industry are also discussed.