Penumbra, Inc. (PEN) Prices 753K Share Common Offering at $166/Sh

Penumbra, Inc. (NYSE: PEN) 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.

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