Penguin Solutions plans USD 650 million convertible senior notes offering due 2031

• Penguin Solutions launched a private offering of USD 650 million convertible senior notes due 2031, with an option to sell an extra USD 100 million.
• Total potential issuance size USD 750 million, subject to market conditions.
• Proceeds earmarked for capped call transactions, exchanges of convertible senior notes due 2029 and 2030, repayment of USD 100 million under a credit agreement.
• Notes mature Aug. 1, 2031; redemption permitted from Aug. 6, 2029 if the stock trades above 130% of the conversion price.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Penguin Solutions Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202607131720BIZWIRE_USPR_____20260713_BW914519) on July 13, 2026, and is solely responsible for the information contained therein.