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Penumbra, Inc. Announces Pricing of Offering of Common Stock

Posted 28 May-2020 07:14 PM by Kevin | 1790

 Penumbra, Inc. (NYSE: PEN), a global healthcare company focused on innovative therapies, today announced the pricing of an underwritten public offering of 753,012 shares of its common stock at a price to the public of $166.00 per share. All of the shares of common stock to be sold in the offering will be offered by Penumbra. The offering is scheduled to close on June 1, 2020, subject to customary closing conditions. The underwriters for the offering will also have a 30-day option to purchase up to an additional 112,951 shares of Penumbra's common stock at the public offering price, less underwriting discounts and commissions.

Penumbra intends to use the net proceeds from this offering for general corporate purposes, including working capital, continued development of its products, including research and development and clinical trials, potential acquisitions and other business opportunities.

J.P. Morgan and BofA Securities are acting as joint lead book-running managers for the offering. Canaccord Genuity, Wells Fargo Securities and Citigroup are acting as co-managers for the offering. Perella Weinberg Partners is acting as independent capital markets advisor to Penumbra for the offering.

A registration statement (including a base prospectus) and a preliminary prospectus supplement relating to these securities has been filed with the Securities and Exchange Commission. The registration statement became effective on February 26, 2020. The offering is being made only by means of a prospectus supplement (including the accompanying base prospectus), copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-212-834-4533, or by emailing at prospectus-eq_fi@jpmchase.com; or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

About Penumbra

Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets novel products and has a broad portfolio that addresses challenging medical conditions in markets with significant unmet need. Penumbra sells its products to hospitals and healthcare providers primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets. The Penumbra logo is a trademark of Penumbra, Inc. 

Forward-Looking Statements

Except for historical information, certain statements in this Press Release, including statements regarding completion, timing, size and use of proceeds of the proposed public offering, are forward-looking in nature and are subject to risks, uncertainties and assumptions about us, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Any forward-looking statements are based on Penumbra's current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Penumbra makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Penumbra's business in general, please refer to Penumbra's preliminary prospectus supplement filed and its prospectus supplement to be filed with the SEC, including the documents incorporated by reference therein, which include its Annual Report on Form 10-K and its Quarterly Report on Form 10-Q filed with the SEC on February 26, 2020 and May 7, 2020, respectively, and its subsequent periodic reports filed with the SEC.


Investor Relations
Penumbra, Inc.



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Company Information

Company Name Contact Person Contact Number Email Id Website Address
Penumbrainc 5109952461 investors@penumbrainc.com https://www.penumbrainc.com/

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