Company: PENG
Filing Date: 2025-06-26
Form Type: 8-K
Source: 0001193125-25-147869
Chunk: 3

Company: Penguin Solutions, Inc.
Filing Date: 2025-06-26
Form: 8-K
Item: Item 1.01
Chunk 3
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.02.      Termination of Material Definitive Agreement.  

In connection with its entry into the Credit Agreement as described under Item 1.01, and the concurrent repayment in full of all borrowings, and termination of all outstanding commitments under, the Existing Credit Agreement, on the Closing Date, the Existing Credit Agreement was terminated. Voluntary prepayments of the loans and voluntary reductions of the unutilized portion of the revolving commitments under the Existing Credit Agreement are permissible without penalty subject to certain conditions pertaining to minimum notice and minimum reduction amounts as described in the Existing Credit Agreement.

The Existing Credit Agreement provided for a $300 million term loan “ A” facility due 2027 (the “2027 Term Loan”) and a $250 million revolving credit facility due 2027 (the “2027 Revolver”). Immediately prior to the repayment and termination of the Existing Credit Agreement, the Company had $300 million of principal outstanding under the 2027 Term Loan, with unamortized issuance costs of $1.8 million and an effective interest