Penguin Solutions plans redomicile from Cayman Islands to Delaware, shares to trade as PENG

Penguin Solutions, Inc.

Board approved redomiciliation of parent to newly-formed Delaware corporation; shares exchanged 1-for-1.
CEO Mark Adams says move reflects increased US operational focus and will streamline regulatory structure.
Redomiciliation subject to shareholder approval, Cayman Court sanction, and other closing conditions.
Anticipated completion in Q3 2025; common stock to continue trading on Nasdaq under symbol PENG.

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