Finance History | 11 Wall Street — Twelve Dollars for Seventy-Two and a Half Million Shares Called STX
· 2002-12
Personal memoryBy kevin · · Report an issue
Find memories left by people near you.
Distribute Bounty
This will distribute the bounty equally among all qualifying memories. This action cannot be undone.
Cancel Bounty
Are you sure you want to cancel this bounty? The remaining amount will be refunded to your account.
Success!
Operation completed successfully.
Error
Something went wrong.
Finance History | 11 Wall Street — Twelve Dollars for Seventy-Two and a Half Million Shares Called STX
kevin
People treat Seagate as a Dublin-registered disk house that always printed STX on Nasdaq.
The present letters first appeared on the New York tape after a leveraged buyout.
Seagate had gone public in 1981, then left the public book on 22 November 2000 when Silver Lake's Suez Acquisition and Veritas closed a take-private.
On 10 December 2002 a new Seagate Technology priced 72.5 million common shares at 12 dollars each in 2002 currency.
The company sold 24 million shares. The parent selling shareholder sold 48.5 million. Gross proceeds were about 870 million dollars.
Regular-way trading under STX began on the New York Stock Exchange on 11 December 2002. The first close was 11.50 dollars.
On 16 September 2008 the same letters moved to the Nasdaq Stock Market, where STX still prints.
The mechanism is a buyout shop returning a disk-drive book to the tape, with most of the 2002 cash going to the LBO holders rather than to the factory.
The pin is the Broad Street facade of the Exchange, where STX first opened.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
changes?
delete this memory?
We detected that you have a Blox in your crypto wallet! We will import the Blox into your account.
Click on done below to complete the import.
Welcome Back!
Sign in to preserve cherished moments
Don't have an account?
Welcome!!
Sign up and start preserving cherished moments
?
?
Choose your payment method
Buy with Metablox Credit
Do you want to mint Blox with Metablox Credit?
Which Crypto would you like to use?
Purchase Confirmed!
Your Blox is being minted on-chain and will appear in your profile shortly.
Log in or sign up to claim your Blox.
How many credits do you want to buy?
$100 USD = 1 Metablox Credit = 1 Blox.
Use Metablox Credit to mint any Blox you want on the map.
expand_more