secwatch.observer — SEC 8-K summary
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Issuer:     Penguin Solutions, Inc. (PENG)
CIK:        0001616533
Form:       8-K
Filed at:   2025-12-30T23:59:59+00:00
Accession:  0001193125-25-337077
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1616533/000119312525337077/0001193125-25-337077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1616533/000119312525337077/d89656d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-337077

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer