---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-179141"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2024-07-16T23:59:59+00:00"
generated_at: "2026-05-31T20:29:53.014688+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SGH receives $200M strategic investment from SK Telecom for AI infrastructure expansion

## Summary
- SK Telecom invests $200M in SGH via 200,000 convertible preferred shares at $1,000 per share.
- Conversion price of $32.81 per preferred share, a 30% premium to 15-day VWAP as of July 12, 2024.
- Preferred shares carry 6% annual dividend (payable in-kind or cash at SGH's option) and are redeemable by SGH.
- SKT to receive board representation; standstill and voting obligations apply; closing expected by end of 2024.
- SGH plans to use capital to enhance Penguin Solutions AI factory offerings and collaborate on data center solutions.

## SEC filing metadata
- accession: 0001193125-24-179141
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2024-07-16T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312524179141/0001193125-24-179141-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312524179141/d871198d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-179141
- JSON: https://secwatch.observer/filing/0001193125-24-179141.json
- Plain text: https://secwatch.observer/filing/0001193125-24-179141.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.