Penguin Solutions prices $650M convertible notes due 2031

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Go back to Penguin Solutions prices $650M convertible notes due 2031

Penguin Solutions Announces Pricing of Private Offering of $650.0 Million of 0.00% Convertible Notes and Refinancing to Enhance Capital Structure

July 14, 2026 11:45 PM EDT

Enhances capital structure and extends debt maturities through opportunistic refinancing of certain existing convertible notes Reduces potential dilution upon conversion of notes through capped call transactions Strengthens financial flexibility

FREMONT, Calif.--(BUSINESS WIRE)-- Penguin Solutions, Inc., the AI Factory Platform Company (Penguin, we or the Company) (Nasdaq: PENG), today announced the pricing of $650.0 million in aggregate principal amount of convertible senior notes due 2031 (the Notes) to be offered and sold to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as... More