Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 25

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 25
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 amendment to the Credit Agreement to provide for certain technical changes to 
 facilitate the consummation of the Transaction under the terms of the Credit Agreement. We also expect to enter into amendments to the indentures                                                                                                    |

11

| governing our Convertible Notes in connection with the Transaction to, among other things, permit the consummation of the Transaction under the terms of the Convertible Notes and provide for 
 the issuance of Penguin Solutions Delaware common stock rather than Penguin Solutions Cayman ordinary shares upon conversion of our Convertible Notes.                                         |

| 21. Q: | Will I be able to trade my Penguin Solutions Cayman ordinary shares during the time between the date of this 
 proxy statement and the Completion Date?                                                                     |

| 22. Q: | How will the Transaction affect the stock exchange listing of Penguin Solutions Cayman ordinary shares? |

| A: | There should be no disruption in the trading of Penguin Solutions Cayman ordinary shares. We will submit                                                                                                                                        
 a notification form with Nasdaq and expect that, following the consummation of the Transaction, the Penguin Solutions Delaware common stock will be listed on Nasdaq under the symbol “PENG,” the same symbol under which the Penguin Solutions 
 Cayman ordinary shares are currently listed.                                                                                                                                                                                                    |

There is currently no established public trading market for the Penguin Solutions Cayman convertible preferred shares. We will not seek to list the Penguin Solutions Delaware convertible preferred stock in connection with the Transaction.

| 23. Q: | How will the Transaction affect Penguin Solutions’ financial reporting and the information Penguin 
 Solutions provides to its shareholders?                                                            |

| A: | Upon completion of the Transaction, Penguin Solutions Delaware will remain subject to the same reporting                                                                                                                                                  
 requirements of the SEC, the mandates of the Sarbanes-Oxley Act and the applicable corporate governance rules of Nasdaq as Penguin Solutions Cayman before the Transaction, and Penguin Solutions Delaware will report our consolidated financial results 
 in U.S. dollars and in accordance with U.S. GAAP. Penguin Solutions Delaware will file reports on Form 10-K, 10-Q and 8-K with                                                                                                                            
 the SEC and comply with the proxy rules applicable to domestic issuers, as Penguin Solutions Cayman currently does.                                                                                                                                       |

Assuming completion of the Transaction, Penguin Solutions Cayman will no longer be subject to the reporting requirements of the SEC and as such, Penguin Solutions Cayman will no longer file reports on Form 10-K, 10-Qand 8-Kand will no longer be subject