---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-307989"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2026-07-17T21:12:42+00:00"
generated_at: "2026-07-17T21:14:13.552439+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Penguin Solutions issues $750M convertible senior notes due 2031, enters capped call and exchange transactions

## Summary
- Issued $750M aggregate principal of 0.00% Convertible Senior Notes due 2031, with initial conversion price of ~$116.70 per share.
- Entered capped call transactions costing $49.1M to reduce potential dilution upon conversion of the notes.
- Exchanged $135.5M of 2029 Notes and $160M of 2030 Notes for cash and common stock in privately negotiated transactions.
- Used net proceeds of ~$735.1M to repurchase existing notes, repay $100M credit facility, and for general corporate purposes.
- Notes are senior unsecured obligations, convertible into cash and common stock, and redeemable after August 2029 under certain conditions.

## SEC filing metadata
- accession: 0001193125-26-307989
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2026-07-17T21:12:42+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312526307989/0001193125-26-307989-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312526307989/d103073d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-307989
- JSON: https://secwatch.observer/filing/0001193125-26-307989.json
- Plain text: https://secwatch.observer/filing/0001193125-26-307989.txt

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