Company: PENG
Filing Date: 2025-06-17
Form Type: 8-K
Source: 0001193125-25-142059
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Company: Penguin Solutions, Inc.
Filing Date: 2025-06-17
Form: 8-K
Item: Item 5.07
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Item 5.07      Submission of Matters to a Vote of Security Holders.  

As previously announced, in order to complete the redomiciliation of the parent company of Penguin Solutions, Inc. (the “ Company” or “ Penguin Solutions Cayman”) and its subsidiaries from the Cayman Islands to the United States, the board of directors of the Company approved the entry into a Cayman Islands scheme of arrangement with its shareholders, which is a court-approved arrangement that required shareholder approval (the “ Scheme of Arrangement”).

By Order of the Grand Court of the Cayman Islands dated April 29, 2025, Penguin Solutions Cayman convened a scheme meeting (the “ Scheme Meeting”) of registered holders of Penguin Solutions Cayman on June 16, 2025 at 10:00 a. m. (Pacific Time) to vote on a proposal to approve the Scheme of Arrangement (the “ Scheme of Arrangement Proposal”).

As of April 25, 2025, the record date for the Scheme Meeting, there were 52,800,546 Penguin Solutions Cayman ordinary shares and 200,000 Penguin Solutions Cayman convertible preferred shares issued and outstanding. At the Scheme Meeting, a total of 38,877,233 shares were voted, representing approximately 73.35% of outstanding shares entitled to vote at the Scheme Meeting, and 2,509 shareholders (including beneficial shareholders) were present in person (including via live webcast) or by proxy, constituting a quorum to conduct business, in each case determined in accordance with applicable Cayman Islands law.

Shareholders of Penguin Solutions Cayman voted for the Scheme of Arrangement Proposal and approved the Scheme of Arrangement in accordance with Cayman Islands law (the voting threshold being 75% or more of the nominal value of the total number of shares voted at the Scheme Meeting by the shareholders of Penguin Solutions Cayman who were entitled to vote and who were present at the Scheme Meeting, either in person or by proxy). The Scheme of Arrangement Proposal was approved by 92.25% of the nominal value of the total number of shares voted at the Scheme Meeting. The final voting results are described below. For more information regarding the Scheme of Arrangement, refer to the definitive proxy statement filed by the Company with the U. S. Securities and Exchange Commission on May 2, 2025.

The Company will seek sanction of the Scheme by way of an application listed to be heard before the Grand Court of the Cayman Islands at 9