Paragon 28, Inc. Announces Proposed Public Offering of Common Stock
25 Januar 2023 - 10:20PM
Business Wire
Paragon 28, Inc. (NYSE: 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.
BofA Securities and Piper Sandler & Co. are acting as joint
book-running managers for the offering. Canaccord Genuity is acting
as a lead manager for the offering. JMP Securities, a Citizens
Company, and Needham & Company are acting as co-managers for
the offering.
The public offering will be made pursuant to a registration
statement on Form S-3 that was filed by Paragon with the U.S.
Securities and Exchange Commission (the “SEC”) on November 1, 2022
and became effective on November 7, 2022. A preliminary prospectus
supplement and accompanying prospectus relating to and describing
the terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. When available,
copies of the preliminary prospectus supplement and accompanying
prospectus may be obtained by contacting: BofA Securities,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC
28255-0001, Attention: Prospectus Department, or by email:
dg.prospectus_requests@bofa.com; or Piper Sandler & Co.
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email
at prospectus@psc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction.
About Paragon 28, Inc.
Based in Englewood, CO., Paragon 28, is a leading medical device
company exclusively focused on the foot and ankle orthopedic market
and is dedicated to improving patient lives. From the onset,
Paragon 28® has provided innovative orthopedic solutions,
procedural approaches and instrumentation that cover a wide range
of foot and ankle ailments including fracture fixation, forefoot,
ankle, progressive collapsing foot deformity (PCFD) or flatfoot,
charcot foot and orthobiologics. The company designs products with
both the patient and surgeon in mind, with the goal of improving
outcomes, reducing ailment recurrence and complication rates, and
making the procedures simpler, consistent, and reproducible.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements include
statements regarding a public offering of Paragon’s common stock,
the timing and size of the public offering and the anticipated use
of the net proceeds from the offering. Such statements are based on
current assumptions that involve risks and uncertainties that could
cause actual outcomes and results to differ materially. These risks
and uncertainties, many of which are beyond Paragon’s control,
include, among others, the risks described in Paragon’s preliminary
prospectus supplement dated January 25, 2023, the accompanying
prospectus dated November 7, 2022, and the documents incorporated
in the prospectus supplement and the prospectus by reference,
including in the section titled “Risk Factors” in Paragon’s most
recent annual report on Form 10-K. These forward-looking statements
speak only as of the date hereof and should not be unduly relied
upon. Paragon does not undertake any obligation to update
forward‐looking statements and expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward‐looking statements contained herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20230125005800/en/
Investor Contact Matthew Brinckman Senior Vice President,
Strategy and Investor Relations Phone: (741) 336-0435
mbrinckman@paragon28.com
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