Penumbra, Inc. (PEN) Announces Proposed $100M Share Common Offering

Penumbra, Inc. (NYSE: PEN) today announced that it has commenced an underwritten public offering of $100,000,000 of shares of its common stock. All of the shares of common stock to be sold in the offering will be offered by Penumbra. In addition, Penumbra expects to grant the underwriters a 30-day option to purchase up to an additional $15,000,000 of shares of Penumbra's common stock at the public offering price, less underwriting discounts and commissions. The offering is subject to market 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.

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. Perella Weinberg Partners is acting as independent capital markets advisor to Penumbra for the offering.

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