SGH upsizes convertible note offering by $25M to $200M; enters capped call to limit dilution

Penguin Solutions, Inc.

Initial purchasers exercised option to buy additional $25M of 2.00% Convertible Senior Notes due 2030, closing Aug 14, 2024.
Total net proceeds from offering expected ~$193M after discounts and expenses.
Company used ~$2.04M for Additional Capped Call Transactions, remaining proceeds to repay term loan facility.
Capped call transactions cover shares underlying Option Notes, cap price initially ~$37.70 (75% premium over Aug 1 close).

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