SMART Global Holdings, Inc. announced it has entered into a Securities Purchase Agreement to issue 200,000 convertible preferred shares par value $0.03 per share at a purchase price of $1,000 per share or an aggregate purchase price of $200,000,000 on July 14, 2024. The transaction includes participation from new investor, SK Telecom Co., Ltd. The preferred shares are convertible into Ordinary Shares at a conversion price of $32.81 per preferred share, subject to adjustment upon the occurrence of certain events. Holders of the CPS will also be entitled to certain protective provisions.