---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-206170"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2024-08-23T23:59:59+00:00"
generated_at: "2026-05-31T07:51:08.302928+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Smart Global amends credit agreement; removes Cree Notes springing maturity, adds $20M threshold for 2026 Notes

## Summary
- Entered Third Amendment to Credit Agreement on Aug 21, 2024.
- Removes springing maturity trigger related to previously repaid Cree Notes.
- Maturity acceleration now only applies if >$20M of 2026 convertible notes remain outstanding.
- As of filing, less than $20M of 2026 Notes outstanding, so springing maturity provision currently not triggered.
- Amendment reduces risk of early maturity acceleration.

## SEC filing metadata
- accession: 0001193125-24-206170
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2024-08-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312524206170/0001193125-24-206170-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312524206170/d889634d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-206170
- JSON: https://secwatch.observer/filing/0001193125-24-206170.json
- Plain text: https://secwatch.observer/filing/0001193125-24-206170.txt

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