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Sandisk Corporation (NASDAQ:SNDKV1), a leader in computer storage devices, has announced material modifications to the rights of its security holders and amendments to its Articles of Incorporation or Bylaws on Thursday. This move comes as part of the company's separation from Western Digital Corporation (NASDAQ:WDC).
On February 12, 2025, Sandisk adopted new Amended and Restated Bylaws. These changes were detailed in the "Description of Capital Stock" section of the company's Information Statement, dated January 31, 2025. This document was previously filed with the SEC on February 3, 2025, and is now incorporated by reference in the latest 8-K filing.
During the when-issued trading period from February 13, 2025, to February 21, 2025, Sandisk shares will trade under the ticker symbol "SNDKV." Regular-way trading is expected to commence on February 24, 2025, under the ticker symbol "SNDK."
These corporate actions are part of the broader restructuring as Sandisk finalizes its split from WDC, a process that has been closely followed by investors and market analysts. The detailed implications of the modified bylaws on shareholder rights have not been disclosed in the press release statement.
The company's fiscal year-end will remain on June 28, and its incorporation in Delaware is unchanged. Sandisk's headquarters will continue to be located at 951 Sandisk Drive, Milpitas, California.
The full text of the Amended and Restated Bylaws has been filed with the SEC as Exhibit 3.1 to the Current Report on Form 8-K, providing stakeholders with the opportunity to review the changes in detail.
This latest development is a significant step in Sandisk's ongoing corporate evolution, as it seeks to establish its independence and strategic direction post-separation from Western Digital Corporation.
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