Financing ·
Penguin Solutions, Inc. issued $750.0 million in 0.00% convertible senior notes due 2031, including a $100.0 million…
PENGPenguin Solutions, Inc.
Penguin Solutions, Inc. issued $750.0 million in 0.00% convertible senior notes due 2031, including a $100.0 million option for initial purchasers. The company is using net proceeds to repurchase $135.5 million of 2029 convertible notes and $160.0 million of 2030 convertible notes through exchange transactions involving cash and common stock, repay $100.0 million under a credit agreement, and fund capped call transactions. Penguin Solutions is a provider of memory and AI infrastructure for enterprise and neocloud environments.