People seem to be completely missing how bullish this is for PENG. SK Telecom isn't dumping its Penguin Solutions stake. It's transferring the entire position to SHIFTIX1 LLC, a wholly owned subsidiary of $SK hynix(SKHY)$ SK hynix. The numbers: SK Telecom originally invested $200M. SHIFTIX1 LLC is paying approximately $380.3M. The position is roughly 6.1M $Penguin Solutions, Inc.(PENG)$ shares on an as-converted basis, which is approximately 10.3% of PENG. SK hynix also inherits key investor rights tied to the stake.
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