Penguin Solutions closes $750M convertible notes offering due 2031
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Penguin Solutions Announces Closing of Oversubscribed Convertible Notes Offering
July 17, 2026 5:05 PM EDT$750 million convertible senior notes; 0.00% coupon; 50.0% conversion premium Strong investor demand supported the initial purchasers full exercise of their $100 million option Refinancing enhances capital structure, extends debt maturities, and reduces interest expense With the capped calls, Penguin anticipates no net dilution from the Notes until Penguins share price exceeds approximately $175.05 per share, or an approximately 125% increase above Penguins closing price at pricing
FREMONT, Calif.--(BUSINESS WIRE)-- Penguin Solutions, Inc., the AI Factory Platform Company (Penguin, we or the Company) (Nasdaq: PENG), today announced... More
