• Penguin Solutions agreed to sell Cree LED to Transom Capital Group for cash.
• Closing is expected in the first calendar quarter of 2027, subject to customary conditions.
• The sale will sharpen the seller's focus on data center AI infrastructure and memory, leaving Cree LED as a standalone business.
• Fiscal 2027 guidance remains unchanged, including Cree LED's approximately 10% contribution to projected net sales.
• Guidance will be updated following closing to reflect the divestiture and related financial impacts.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Penguin Solutions Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20261104524800) on November 04, 2026, and is solely responsible for the information contained therein.