Paragon 28, Inc. Announces Pricing of Initial Public Offering

Rhea-AI Summary

Paragon 28, Inc. (NYSE: FNA) has priced its initial public offering (IPO) of 7,812,500 common shares at $16.00 each, aiming for gross proceeds of $125 million. Trading on the NYSE is set to commence on October 15, 2021, with the offering expected to close on October 19, 2021. A 30-day option for underwriters to purchase an additional 1,171,875 shares at the offering price is also available. The offering process follows effective registration by the U.S. Securities and Exchange Commission on October 14, 2021.

Positive

• Initial public offering priced at $16.00 per share, raising $125 million.
• Trading on NYSE will enhance visibility and investment opportunities.
• Additional shares option increases potential capital influx.

Negative

• None.

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Paragon 28, Inc. (NYSE: FNA) (“PARAGON”), a leading medical device company exclusively focused on the foot and ankle orthopedic market, today announced the pricing of its initial public offering of 7,812,500 shares of its common stock at a public offering price of $16.00 per share, for total gross proceeds of $125.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares are being offered and sold by PARAGON. PARAGON’s common stock is expected to begin trading on the New York Stock Exchange on October 15, 2021, under the ticker symbol “FNA.” The offering is expected to close on October 19, 2021, subject to the satisfaction of customary closing conditions. In addition, PARAGON has granted the underwriters a 30-day option to purchase up to an additional 1,171,875 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

BofA Securities and Piper Sandler are acting as joint lead book-running managers for the offering. Canaccord Genuity is acting as a lead manager. JMP Securities and Needham & Company are acting as co-managers.

A registration statement relating to the shares being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on October 14, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by e-mail at prospectus@psc.com, or by phone at (800) 747-3924.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014006180/en/

Investor Contact:

Gilmartin Group

Matt Bacso, CFA

Matt.bacso@gilmartinir.com

Source: Paragon 28, Inc.

FAQ

What is the IPO price of Paragon 28, Inc. (FNA)?

The IPO price is $16.00 per share.

When will Paragon 28, Inc. start trading on the NYSE?

Trading is expected to begin on October 15, 2021.

What are the total gross proceeds from the IPO?

The total gross proceeds are anticipated to be $125 million.

When is the expected closing date of the offering?

The offering is expected to close on October 19, 2021.

Is there an option for underwriters to purchase additional shares?

Yes, underwriters have a 30-day option to purchase up to 1,171,875 additional shares.