Penguin Solutions, Inc. announced on June 30, 2025, the completion of its redomiciliation process, changing the parent company from a Cayman Islands entity to a Delaware corporation. This strategic move was approved by shareholders on June 16, 2025, and sanctioned by the Grand Court of the Cayman Islands on June 25, 2025.
Upon completion, all issued ordinary shares and preferred shares of the former Cayman Islands company were exchanged on a one-for-one basis for newly issued shares of common stock and preferred stock of the Delaware corporation. The former shareholders are now stockholders of the new U.S.-based parent company.
The common stock of the Delaware corporation will begin trading on the Nasdaq Global Select Market on July 1, 2025, under the unchanged ticker symbol "PENG". The company does not anticipate any material impact to its employees or its day-to-day business operations as a result of this redomiciliation.
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