2023-01-25 21:20:00

Paragon 28, Inc. Announces Proposed Public Offering of Common Stock

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Benzinga
By Business Wire

Paragon 28, Inc. FNA ("Paragon"), a leading medical device company exclusively focused on the foot and ankle orthopedic market, announced today the commencement of a proposed underwritten public offering of 6,500,000 shares of its common stock, consisting of 3,750,000 shares offered by Paragon and 2,750,000 shares offered by certain selling securityholders. Paragon and the selling securityholders also expect to grant the underwriters a 30-day option to purchase up to an additional 562,500 and 412,500 shares of common stock, respectively. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Paragon intends to use the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by Paragon, for working capital, capital expenditures and other general corporate purposes. Paragon may also use a portion of the net proceeds to acquire or invest in products, technologies or businesses that are complementary to its business; however, Paragon currently does not have any agreements or commitments to complete any such transactions. Paragon will not receive any proceeds from the sale of common stock offered by the selling securityholders.

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