Penumbra, Inc. Announces Closing of its Initial Public Offering

ALAMEDA, CA, September 23, 2015 (Business Wire) – Penumbra, Inc. (NYSE: PEN) today announced the closing of its initial public offering of 4,600,000 shares of its common stock at an initial public offering price of $30.00 per share, including 600,000 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares. Total net proceeds to Penumbra from the offering, including proceeds from the option exercise, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $124.9 million.

J.P. Morgan and BofA Merrill Lynch acted as joint lead book-running managers for the offering. Wells Fargo Securities and Canaccord Genuity acted as co-managers for the offering. Perella Weinberg Partners acted as independent capital markets advisor to Penumbra for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 17, 2015. The offering was made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Ave, Edgewood, NY 11717, (tel: +1 866 803 9204); or BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or email at dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction.

About Penumbra

Penumbra, Inc., headquartered in Alameda, California is a global interventional therapies company that designs, develops, manufactures and markets innovative medical devices. The company has a broad portfolio of products that address challenging medical conditions and significant clinical needs across two major markets, neuro and peripheral vascular. Penumbra has approximately 1,000 employees and sells its products to hospitals primarily through its direct sales organization in the U.S., most of Europe, Canada and Australia, and through distributors in select international markets. Penumbra and the Penumbra logo are trademarks of Penumbra, Inc.

Sara Thompson
Head of Investor Relations
Penumbra, Inc.
investors@penumbrainc.com