Penguin Solutions, Inc. entered into an indenture governing new convertible notes, the company said in a filing with the Securities and Exchange Commission.
The indenture, dated July 17, 2026, is between Penguin Solutions, Inc., a Delaware corporation, and U.S. Bank Trust Company, National Association, acting as trustee, according to the filing.
The agreement covers the company's 0.00% Convertible Senior Notes due 2031, meaning the notes carry no regular stated interest rate, as described in the indenture.
Notes will be issued in Authorized Denominations of $1,000 in principal amount or any integral multiple of $1,000 in excess thereof, the filing states.
The initial conversion rate for the notes is 8.5690 shares of common stock per $1,000 principal amount of notes, subject to adjustment as set out in the indenture. Based on that rate, the filing describes the conversion price as $1,000 divided by the conversion rate in effect at a given time.
The company's common stock has a par value of $0.03 per share, according to the definitions section of the indenture.
The indenture also names the company as the initial Bid Solicitation Agent as of the issue date, with the ability to appoint another person, including one of its subsidiaries, to that role at any time after the issue date without prior notice, the filing said.
$PENGPenguin Solutions, Inc.Price$53.00 ▼11.7%Net sentiment+0.18Bullish67%Mentions · 30d24Samplen=24Avg volume573,599View on the dashboard