---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-337077"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2025-12-30T23:59:59+00:00"
generated_at: "2026-05-16T11:59:33.724012+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Penguin Solutions agrees to sell remaining 19% stake in Zilia for $46.08M

## Summary
- Seller (SMART Modular Technologies) will sell 19% interest in Zilia Technologies to Lexar Europe B.V. for $46.08 million.
- Buyer already owns 81% of Zilia; after closing, Zilia becomes wholly owned by Buyer.
- Closing expected by March 30, 2026, with extension to April 28, 2026 if approvals delayed.
- Penguin Solutions will hold no further stake in Zilia after the transaction.

## SEC filing metadata
- accession: 0001193125-25-337077
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2025-12-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312525337077/0001193125-25-337077-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312525337077/d89656d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-337077
- JSON: https://secwatch.observer/filing/0001193125-25-337077.json
- Plain text: https://secwatch.observer/filing/0001193125-25-337077.txt

## Key facts
- Material Agreements
  Penguin Solutions, Inc. entered into Stock Transfer Agreement with Lexar Europe B.V. valued at $46.08 million for 19% interest in Zilia (effective 2025-12-29).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Lexar Europe B.V.
  - Value: $46.08 million for 19% interest in Zilia
  - Effective: 2025-12-29
  source text: On December 29, 2025, SMART Modular Technologies (LX) S.à r.l. (“Seller”), a société à responsabilité limitée governed by the laws of the Grand Duchy of Luxembourg and a wholly owned indirect subsidiary of Penguin Solutions, Inc. (the “Company”), entered into that certain Stock Transfer Agreement (the “Stock Transfer Agreement”), by and among Seller, Lexar Europe B.V., a company organized under the laws of the Netherlands (“Buyer”), Zilia Technologies Indústria e Comércio de Componentes Eletrônicos Ltda., a sociedade limitada governed by the laws of Brazil (“Zilia”), Shenzhen Longsys Electronics Co., Ltd., a company limited by shares governed by the laws of the People’s Republic of China and, as of the date hereof, listed on the Shenzhen Stock Exchange (Stock Code: 301308) (“Parent”), and Shanghai Intelligent Memory Semiconductor Co., Ltd. ( 上海慧 忆半导体有限公司 ), a limited liability company governed by the laws of the People’s Republic of China (“Parent Funding Entity”, together with Buyer a
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000119312525337077/0001193125-25-337077-index.htm

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