Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 43

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 43
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 expenses in connection with and as a result of the Transaction. We expect to incur attorneys’ fees,
accountants’ fees, tax advisory fees, filing and other regulatory fees, mailing expenses, proxy solicitation fees and financial printing expenses in connection with the Transaction, even if the Transaction is not approved or consummated. These
combined factors could adversely affect the business, operating profit and overall financial condition of Penguin Solutions Delaware. The Transaction may also negatively affect us by diverting attention of our management and employees from our
operating business during the period of implementation and by increasing certain other administrative costs and expenses.

The Completion Date of the Transaction is subject to change.

We currently expect the Completion Date to occur after the closing of trading of the Penguin
Solutions Cayman ordinary shares on Nasdaq on June 30, 2025. The exact date and timing of the Completion Date will depend on factors such as any postponement or adjournment of the hearing before the Cayman Court regarding sanction of the Scheme of
Arrangement.

We may choose to defer or abandon the Transaction.

While we currently expect the Completion Date to take place soon after the Sanction Hearing on June 25, 2025, the Effective Time and the
Completion Date cannot occur until on or after such time as the Sanction Order granted by the Cayman Court is delivered to the Cayman Islands Registrar of Companies.

If it is necessary to adjourn the Scheme Meeting required to approve the meeting proposal in connection with the Transaction described in this
proxy statement, for any reason including any circumstances outside of our control, there may be a delay in obtaining the Sanction Order from the Cayman Court and thereby the consummation of the Transaction may be deferred until such time.

In addition, the Penguin Solutions Cayman Board may seek to adjourn the application to the Cayman Court to sanction the Scheme of Arrangement
or may abandon the Transaction before the Sanction Hearing for

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economic, strategic or other reasons, including if adverse conditions are imposed on the Scheme of Arrangement (and therefore the Transaction) by the Cayman Court. It is likely that Penguin
Solutions Cayman may determine to terminate the Scheme of Arrangement and not proceed with the Transaction if any condition, modification or amendment is imposed on us that is materially adverse to Penguin Solutions.

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CAUTIONARY NOTE REGARDING FORWARD-LOOKINGSTATEMENTS

This proxy statement, including the documents incorporated by
reference herein, contains “forward-looking statements” within the meaning of Section 27A