Astra AI Infra LLC, a unit of SK Telecom, agreed to sell its entire 10.3% stake in Penguin Solutions to SHIFTIX1 LLC. SHIFTIX1 LLC operates as a subsidiary of SK hynix Inc.
The transaction includes all 200,000 of Astra’s Convertible Preferred Shares. The aggregate purchase price totals approximately $380.3 million.
The parties reached the agreement on July 27, 2026. An SEC filing disclosed the deal on July 28, 2026. The sale remains subject to regulatory approvals.
Penguin Solutions recently closed an oversubscribed $750 million convertible notes offering earlier in July. The company has not announced any changes to its strategy following this ownership shift.