secwatch.observer — SEC 8-K summary
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Issuer:     Penguin Solutions, Inc. (PENG)
CIK:        0001616533
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001193125-24-194920
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1616533/000119312524194920/0001193125-24-194920-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1616533/000119312524194920/d878059d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-194920

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer