{"id":865262,"date":"2025-06-30T16:38:35","date_gmt":"2025-06-30T20:38:35","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-completes-redomiciliation-to-the-united-states\/"},"modified":"2025-06-30T16:38:35","modified_gmt":"2025-06-30T20:38:35","slug":"penguin-solutions-completes-redomiciliation-to-the-united-states","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-completes-redomiciliation-to-the-united-states\/","title":{"rendered":"Penguin Solutions Completes Redomiciliation to the United States"},"content":{"rendered":"

<\/p>\n

Penguin Solutions Completes Redomiciliation to the United States<\/b><\/p>\n

MILPITAS, Calif.–(BUSINESS WIRE<\/a>)–Penguin Solutions, Inc.<\/a>, a Delaware corporation (Nasdaq: PENG<\/a>) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the completion of the redomiciliation process to change the parent company of the Penguin Solutions group of companies from a Cayman Islands company to a Delaware corporation. The redomiciliation was accomplished by way of a Cayman Islands Scheme of Arrangement and was approved by an overwhelming majority of Penguin Solutions\u2019 shareholders at a Scheme Meeting held on June 16, 2025. The Grand Court of the Cayman Islands sanctioned the Scheme on June 25, 2025, and on the same date, the Scheme of Arrangement became effective in accordance with its terms upon the delivery of the Sanction Order to the Cayman Islands Registrar of Companies.<\/p>\n

\nThe redomiciliation was completed following the close of trading on June 30, 2025. At completion, all issued ordinary shares and preferred shares of Penguin Solutions, Inc., a Cayman Islands exempted company (\u201cPenguin Solutions Cayman\u201d), were exchanged on a one-for-one basis for newly issued shares of common stock and shares of preferred stock, respectively, of the Company. The former shareholders of Penguin Solutions Cayman are now the stockholders of the Company, which is the parent company of the Penguin Solutions group of companies. The common stock of the Company will begin trading on the Nasdaq Global Select Market on July 1, 2025, with its trading symbol of \u201cPENG\u201d remaining unchanged.<\/p>\n

\nThe Company does not anticipate any material impact to its employees or its day-to-day business as a result of the completion of the redomiciliation.<\/p>\n

\nFor more information on the redomiciliation of the Company, please refer to a copy of the Sanction Order<\/a> issued by the Grand Court of the Cayman Islands which approved the redomiciliation, available under the Governance section<\/a> of our Investor Relations website.<\/p>\n

About Penguin Solutions<\/b><\/p>\n

\nThe most exciting technological advancements are also the most challenging for companies to adopt. At Penguin Solutions, we support our customers in achieving their ambitions across our Advanced Computing, Integrated Memory, and Optimized LED business segments. With our expert skills, experience, and partnerships, we turn our customers\u2019 most complex challenges into compelling opportunities.<\/p>\n

\nFor more information, visit https:\/\/www.penguinsolutions.com<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250630906953\/en\/<\/a><\/span><\/p>\n

Investor Contact
\n<\/b>
Suzanne Schmidt
\n
Investor Relations
\n
(510) 360-8596
\n
ir@penguinsolutions.com<\/a><\/p>\n

PR Contact
\n<\/b>
Maureen O\u2019Leary
\n
Penguin Solutions Corporate Communications
\n
(602) 330-6846
\n
pr@penguinsolutions.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Business Data Management Professional Services Technology Software<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Penguin Solutions Completes Redomiciliation to the United States MILPITAS, Calif.–(BUSINESS WIRE)–Penguin Solutions, Inc., a Delaware corporation (Nasdaq: PENG) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the completion of the redomiciliation process to change the parent company of the Penguin Solutions group of companies from a Cayman Islands company to a Delaware corporation. The redomiciliation was accomplished by way of a Cayman Islands Scheme of Arrangement and was approved by an overwhelming majority of Penguin Solutions\u2019 shareholders at a Scheme Meeting held on June 16, 2025. The Grand Court of the Cayman Islands sanctioned the Scheme on June 25, 2025, and on the same date, the Scheme of Arrangement became effective in accordance with its terms upon the delivery of the … <\/p>\n

Continue reading “Penguin Solutions Completes Redomiciliation to the United States”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-865262","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPenguin Solutions Completes Redomiciliation to the United States - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-completes-redomiciliation-to-the-united-states\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Penguin Solutions Completes Redomiciliation to the United States - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Penguin Solutions Completes Redomiciliation to the United States MILPITAS, Calif.–(BUSINESS WIRE)–Penguin Solutions, Inc., a Delaware corporation (Nasdaq: PENG) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the completion of the redomiciliation process to change the parent company of the Penguin Solutions group of companies from a Cayman Islands company to a Delaware corporation. 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