---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-200635"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2024-08-14T23:59:59+00:00"
generated_at: "2026-05-31T09:20:23.126242+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001193125-24-200635
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2024-08-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312524200635/0001193125-24-200635-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312524200635/d855925d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-200635
- JSON: https://secwatch.observer/filing/0001193125-24-200635.json
- Plain text: https://secwatch.observer/filing/0001193125-24-200635.txt

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