---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-194920"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2024-08-06T23:59:59+00:00"
generated_at: "2026-05-31T12:17:50.412152+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SGH issues $175M 2.00% convertible notes due 2030; repurchases $80M of 2026 notes

## Summary
- Issued $175M aggregate principal (upsized from $150M) of 2.00% convertible senior notes due 2030.
- Net proceeds ~$168.7M; ~$100.6M used to repurchase $80M of existing 2.25% notes due 2026.
- ~$14.3M used for capped call transactions; remainder to repay term loan facility.
- Initial conversion price ~$28.01 per share; capped call cap price ~$37.70.
- Initial purchasers granted option to buy up to additional $25M in notes.

## SEC filing metadata
- accession: 0001193125-24-194920
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2024-08-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312524194920/0001193125-24-194920-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312524194920/d878059d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-194920
- JSON: https://secwatch.observer/filing/0001193125-24-194920.json
- Plain text: https://secwatch.observer/filing/0001193125-24-194920.txt

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