Company: PENG
Filing Date: 2025-07-08
Form Type: 10-Q
Source: 0001628280-25-034541
Chunk: 198

Company: Penguin Solutions, Inc.
Filing Date: 2025-07-08
Form: 10-Q
Item: Part II, Item 8
Chunk 198
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 new financing is available, it may not be available on terms that are acceptable to us. Complying with these covenants may cause us to take actions that we otherwise would not take or not take actions that we otherwise would take.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Issuer Purchases of Equity Securities

On April 5, 2022, we announced that our Board of Directors approved a $75.0 million share repurchase authorization (the “Initial Authorization”), under which we may repurchase our outstanding ordinary shares from time to time through open market purchases, privately-negotiated transactions or otherwise. On January 9, 2024, we announced that the Audit Committee of the Board of Directors approved an additional $75.0 million share repurchase authorization (the “Additional Authorization,” and together with the Initial Authorization, the “Current Authorization”). The Current Authorization, which consists solely of amounts approved pursuant to the Additional Authorization as all amounts under the Initial Authorization have been utilized, has no expiration date but may be suspended or terminated by the Board of Directors at any time. As of May 30, 2025, the remaining aggregate dollar value of shares that may be repurchased under the Current Authorization was $36.8 million. Certain of our agreements, including the 2025 Credit Agreement, the SKT Purchase Agreement and the CPS Certificate of Designation relating to the SKT Investment, contain restrictions that limit our ability to repurchase our shares of common stock.

The following table sets forth information relating to repurchases of our equity securities during the three months ended May 30, 2025:PeriodTotal number of shares purchasedAverage price paid per shareTotal number of shares purchased as part of publicly announced plans or programsApproximate dollar value of shares that may yet be purchased under the plans or programsMarch 1, 2025 - March 28, 2025— $— — $66,616,000 March 29, 2025 - April 25, 20251,425,200 $16.03 1,425,200 $43,768,000 April 26, 2025 - May 30, 2025397,100 $17.53 397,100 $36,805,000 1,822,300 $16.36 1,822,300 

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures