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Seagate Technology Holdings (NASDAQ:STX) is one of the best future tech stocks to buy according to billionaires. On May 28, Seagate Technology closed the privately negotiated exchange of $185.908 million in aggregate principal amount of its 3.50% Exchangeable Senior Notes due 2028. The company settled this transaction using a combination of $185.908 million in cash and approximately 2.02 million ordinary shares of Seagate stock. Following the completion of this deal, the exchanged notes have been officially retired.

The exchange was executed as a private placement, conducted in accordance with exemptions from the registration requirements of the Securities Act of 1933. As a result of these transactions, approximately $185.8 million in aggregate principal amount of the notes remains outstanding, with all original terms remaining unchanged.

This announcement is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Furthermore, Seagate Technology Holdings (NASDAQ:STX) clarified that there will be no offer, solicitation, or sale of these securities in any jurisdiction where such activity would be considered unlawful.

Seagate Technology Holdings (NASDAQ:STX) is a data storage and technology company that offers a portfolio of advanced storage solutions to hyperscale cloud providers, enterprises, and consumers.

While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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