Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 26

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 26
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| the Transaction under the terms of the Credit Agreement. We also expect to enter into amendments to the indentures 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 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?                                                                     |

| A: | Yes. You will be able to trade your Penguin Solutions Cayman ordinary shares during the time between the                                                                                                               
 date of this proxy statement and the last business day prior to the Completion Date. The Completion Date is expected to be at or around   p.m. on    , 2025. Penguin Solutions Cayman ordinary shares will continue to 
 trade on Nasdaq under the symbol “PENG” during this period.                                                                                                                                                            |

| 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 
 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