Finance History | Nasdaq MarketSite — One Flash Share for Every Three Western Digital Shares Called SNDK
· 2025-2
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Finance History | Nasdaq MarketSite — One Flash Share for Every Three Western Digital Shares Called SNDK
kevin
People treat Sandisk as a Milpitas flash house that always printed SNDK after a finished Nasdaq book.
The February 2025 issuer was already inside another listed company. Western Digital had closed the 19 billion dollar purchase of the earlier SanDisk in May 2016.
A Western Digital 8-K dated 24 February 2025 records the separation. The distribution was effective at 11:59 p.m. Pacific time on 21 February 2025.
Holders of record on 12 February 2025 received one-third of one Sandisk share for each Western Digital share. The parent kept 19.9 percent of the new book.
The same filing said regular-way trading of Sandisk common under the letters SNDK began on the Nasdaq Stock Market on 24 February 2025. Western Digital stayed on Nasdaq as WDC.
Sandisk's own release that morning said the new company would ring the Nasdaq closing bell the same day.
The present tape is SNDK on the Nasdaq Global Select Market.
The mechanism is a tax-free spin that split flash from hard-disk drives. No new cash sale priced the first regular-way prints.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that now prints SNDK.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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