Penguin Solutions, Inc. (PENG) Form 8-K — Jul 17, 2026
Penguin Solutions issued $750 million of 0.00% convertible senior notes due 2031, with initial purchasers exercising their full option for an additional $100 million, bringing the total offering size to $850 million. The company estimates net proceeds of approximately $735.1 million after deducting discounts and commissions. The company intends to use $298.1 million of the proceeds to repurchase its existing 2.00% convertible senior notes due 2029 and 2030, $49.1 million to pay for capped call transactions, and $100 million to repay outstanding borrowings under its credit agreement. The remainder will be used for general corporate purposes.
Key figures
- Debt Amount
- 750000000
- Gross Proceeds
- 735100000
- Cap Price
- 175.05
- Capped Call Cost
- 49100000
- Conversion Price
- 116.70
- Initial Conversion Rate
- 8.5690
- Credit Facility Repayment
- 100000000
- Existing Notes Repurchase Principal
- 295500000
Price after filing
Close on the filing date to close N calendar days later (from $60.41). Historical, not a forecast.
AI analysis
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