---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-279100"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2024-12-16T23:59:59+00:00"
generated_at: "2026-05-29T02:58:00.839686+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Penguin Solutions closes $200M SK Telecom investment, appoints SKT exec to board, updates FY2025 EPS outlook

## Summary
- Closed $200M investment from SKT via 200,000 convertible preferred shares at $1,000 each, convertible at $32.80784 per share.
- CPS carry 6% cumulative quarterly dividend payable in-kind or cash at company option.
- Appointed Min Yong Ha, SKT Chief Development Officer, to Board of Directors as SKT designee.
- FY2025 GAAP EPS outlook lowered to $0.10±0.20; Non-GAAP EPS to $1.50±0.20 due to investment accounting.
- Proceeds to enhance AI factory offerings and financial flexibility.

## SEC filing metadata
- accession: 0001193125-24-279100
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2024-12-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312524279100/0001193125-24-279100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312524279100/d903373d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-279100
- JSON: https://secwatch.observer/filing/0001193125-24-279100.json
- Plain text: https://secwatch.observer/filing/0001193125-24-279100.txt

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