Key Developments: SanDisk Corp (SNDK.OQ)

SNDK.OQ on NASDAQ Stock Exchange Global Select Market

104.97USD
11 Jul 2014
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$1.20 (+1.16%)
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Latest Key Developments (Source: Significant Developments)

Sandisk Corp gives Q1, FY 2014 revenue guidance above analysts' estimates - Conference Call
Wednesday, 22 Jan 2014 10:00am EST 

Sandisk Corp:Sees FY 2014 revenues to be $6.400 bln - $6.800 bln and Q1 2014 revenues to be $1.450 bln - $1.525 bln.FY 2014 revenues of $5.77 billion - Thomson Reuters I/B/E/S Estimates.Q1 2014 revenues of $1.24 billion - Thomson Reuters I/B/E/S Estimates.  Full Article

Sandisk Corp and Avnet Inc Partner to deliver commercial flash storage solutions worldwide
Thursday, 19 Dec 2013 09:00am EST 

Sandisk Corp and Avnet Inc:Says that Avnet will offer a wide portfolio of flash-based hardware and software solutions from SanDisk to its customers.Says the offer will be throughout North America, Europe, the Middle East and Africa, Asia Pacific and Latin America.Says the offer will made through its Avnet Electronics Marketing and Avnet Technology Solutions operating groups.Says worldwide distribution agreement enables SanDisk to leverage Avnet`s global scale, scope and solutions distribution model.  Full Article

Sandisk Corp Completes Private Offering Of $1.5 Billion Convertible Senior Notes - Form 8-K
Tuesday, 29 Oct 2013 04:25pm EDT 

Sandisk Corp reported in its Form 8-K that on October 29, 2013, SanDisk Corporation completed the private offering of $1.5 billion aggregate principal amount of its 0.50% Convertible Senior Notes due 2020. The $1.5 billion aggregate principal amount of notes includes notes issued in connection with the full exercise on October 24, 2013 by the initial purchaser for the notes offering of its option to purchase up to $200.0 million principal amount of notes to cover over-allotments. The net proceeds from this offering were approximately $1.48 billion, after deducting the initial purchaser’s discounts and estimated offering expenses. As of October 29, 2013, in connection with the issuance of the notes, the Registrant entered into an Indenture with respect to the notes with The Bank of New York Mellon Trust Company, N.A., as Trustee. Under the Indenture, the notes will be senior unsecured obligations of the Registrant and will pay interest semiannually at a rate of 0.50% per annum. The notes will be convertible at an initial conversion rate of 10.8470 shares of the Registrant’s common stock per $1,000 principal amount of notes. The initial conversion price represents a premium of approximately 35% to the $68.29 per share closing price of the Registrant’s common stock on October 23, 2013. The notes will be convertible beginning on July 15, 2020, or earlier upon the occurrence of certain events.  Full Article

Sandisk Corp Announces Pricing of $1.3 Billion of Convertible Senior Notes
Thursday, 24 Oct 2013 08:00am EDT 

SanDisk Corporation announced the pricing of $1.3 billion principal amount of Convertible Senior Notes due in 2020. The size of the offering of the notes was increased from the previously announced aggregate principal amount of $1.0 billion. The sale of the notes is expected to close on October 29, 2013. The Company estimates that the net proceeds from the offering will be approximately $1.28 billion, or approximately $1.48 billion if the initial purchaser exercises its over-allotment option in full, after deducting discounts and estimated offering expenses. The Company intends to use a portion of the net proceeds of the offering to fund the cost of privately negotiated convertible note hedge transactions, which will serve to increase the effective conversion price of the notes. In addition, the Company intends to use a portion of the net proceeds to repurchase shares of its common stock from purchasers of the notes in privately negotiated transactions, each as described below. The remaining net proceeds are expected to be used for: the repayment at maturity, or repurchase from time to time, of a portion or all of the Company's currently outstanding indebtedness; potential strategic investments or acquisitions; the repurchase, from time to time, of shares of the Company's common stock pursuant to the Company's existing stock repurchase programs; and other general corporate purposes, including capital expenditures related to manufacturing and technology.  Full Article

Sandisk Corp Offers $1 Billion of Convertible Senior Notes
Wednesday, 23 Oct 2013 07:06am EDT 

SanDisk Corporation announced its intention to offer, subject to market and other conditions, up to $1.0 billion principal amount of Convertible Senior Notes due in 2020 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In addition, the Company expects to grant the initial purchaser for the offering an option to purchase up to an additional $150 million principal amount of notes from the Company to cover over-allotments. The Company intends to use a portion of the net proceeds of the offering to fund the cost of privately negotiated convertible note hedge transactions, which will serve to increase the effective conversion price of the convertible debt. In addition, the Company intends to use a portion of the net proceeds to repurchase shares of its common stock from purchasers of the notes in privately negotiated transactions, which will be consummated concurrently with the offering. The remaining net proceeds are expected to be used for: the repayment at maturity, or repurchase from time to time, of a portion or all of the Company's outstanding indebtedness; potential strategic investments or acquisitions; the repurchase, from time to time, of shares of the Company's common stock pursuant to the Company's existing stock repurchase programs; and (4) other general corporate purposes, including capital expenditures related to manufacturing and technology.  Full Article

Sandisk Corp Issues Q4 2013 Revenue Guidance In Line With Analysts' Estimates; Raises FY 2013 Revenue Guidance-Conference Call
Wednesday, 16 Oct 2013 09:00pm EDT 

Sandisk Corp announced that for the fourth quarter of 2013, it expects revenue to be between $1.65 billion and $1.725 billion. For fiscal 2013, it expects revenue forecast above the high end of previous estimates. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.674 billion for the fourth quarter of 2013 and revenue of $6.049 billion for fiscal 2013.  Full Article

Sandisk Corp Declares Fourth Quarter 2013 Cash Dividend
Wednesday, 16 Oct 2013 04:05pm EDT 

SanDisk Corporation announced that it has declared a fourth quarter 2013 cash dividend of 22.5 cents per share on the Company's common stock. The dividend will be payable on November 25, 2013 to stockholders of record at the close of business on November 4, 2013.  Full Article

Sandisk Corp Completes Acquisition of SMART Storage Systems
Thursday, 22 Aug 2013 04:06pm EDT 

Sandisk Corp announced that it has completed its acquisition of SMART Storage Systems, a developer of enterprise solid state drives based on the SATA and SAS storage protocols.  Full Article

Toshiba Corp And SanDisk Corp To Build About $4 Billion Flash Memory Plant-Reuters
Monday, 5 Aug 2013 02:19pm EDT 

Reuters reported that Toshiba Corp plans to build a memory chip production factory with a total investment of JPY400 billion (about $4 billion) with SanDisk Corp, the Nikkei reported. Toshiba plans to make chips of 16-17 nanometers circuit line width at the new plant, by making more chips from a single silicon wafer, the business paper said. The new facility, expected to start production in the next fiscal year.  Full Article

Sandisk Corp Approves Initiation Of Quarterly Cash Dividend
Wednesday, 31 Jul 2013 06:04pm EDT 

Sandisk Corp announced that the Board of Directors has approved the initiation of a quarterly cash dividend of $0.225 per share of common stock, equivalent to an annual yield of approximately 1.6% based on the July 31, 2013 closing price of $55.12. On an annualized basis, this will return approximately $220 million to stockholders based on shares outstanding as of June 30, 2013. The first dividend payment will be made on August 30, 2013 to holders of record on August 12, 2013. Future dividend payments are subject to review and approval by the Board.  Full Article

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SanDisk to buy Fusion-io to boost flash storage business

- SanDisk Corp SNDK.O said on Monday it will buy Fusion-io Inc FIO.N for about $1.1 billion to bolster its fast-growing business of providing flash storage drives to companies.

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