Davis Polk advised Penumbra, Inc. on its SEC-registered follow-on public offering of 865,963 shares of common stock for an aggregate price to the public of approximately $143.75 million, including 112,951 shares sold pursuant to the underwriters’ option to purchase additional shares. The shares are listed on the New York Stock Exchange under the symbol “PEN.”
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets novel products and has a broad portfolio that addresses challenging medical conditions in markets with significant unmet need. Penumbra sells its products to hospitals and healthcare providers primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets.
The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jason Bassetti and associate Daniel Fox. Counsel Ethan R. Goldman and associate M. Jared Sanders provided tax advice. Partner David R. Bauer and associate Daniel P. Kearney provided intellectual property advice. Associate Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.