Penguin Solutions Announces Proposed Private Offering of Convertible Notes and Refinancing to Enhance Capital Structure

Penguin Solutions announced a proposed private offering of $650 million in aggregate principal amount of convertible senior notes due 2031, with an option for purchasers to buy an additional $100 million. The company intends to use the net proceeds to fund capped call transactions, refinance existing convertible notes due 2029 and 2030, and repay $100 million under its JPMorgan credit facility.

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