Penguin Solutions entered into a Stock Transfer Agreement to sell its subsidiary’s remaining 19% interest in Zilia to Lexar Europe for $46.08 million. The transaction is subject to customary closing conditions and is expected to close on Mar 30, 2026, or by Apr 28, 2026 if requisite approvals are delayed. Upon closing, Penguin Solutions will no longer hold any interest in Zilia, which will become wholly owned by Lexar Europe, and the existing quotaholders agreement will terminate.
Agreement details:
Agreement type: Stock Transfer Agreement to sell 19% interest in Zilia for $46.08 millionCounterparty: Lexar EuropeSigned / Effective: Dec 29 2025 / Dec 29 2025Duration / Termination: N/AReason: Monetize remaining Zilia stake and simplify ownership
Original SEC Filing: Penguin Solutions, Inc. [ PENG ] – 8-K – Dec. 30, 2025
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