Penumbra, Inc. Announces Launch of Offering of 1,300,000 Shares of its Common Stock

ALAMEDA, Calif., March 15, 2017 — Penumbra, Inc. (NYSE: PEN), a global healthcare company focused on interventional therapies, today announced that it has commenced an underwritten public offering of 1,300,000 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 195,000 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 Merrill Lynch are acting as joint lead book-running managers for the offering. Wells Fargo Securities and Canaccord Genuity are acting as co-managers for the offering. Perella Weinberg Partners is acting as independent capital markets advisor to Penumbra for the offering.

A registration statement (including a base prospectus) and a preliminary prospectus supplement relating to these securities has been filed with the Securities and Exchange Commission. The registration statement became effective on March 14, 2017. The offering is being made only by means of a prospectus supplement (including the accompanying base 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, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an 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 of these securities under the securities laws of any such state or jurisdiction.

About Penumbra

Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on interventional therapies. Penumbra designs, develops, manufactures and markets innovative devices and has a broad portfolio of products that addresses challenging medical conditions and significant clinical needs across two major markets, neuro and peripheral vascular. Penumbra 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.

Forward-Looking Statements

Except for historical information, certain statements in this press release, including statements regarding completion, timing, size and use of proceeds of the proposed public offering, are forward-looking in nature and are subject to risks, uncertainties and assumptions about us, including, without limitation, risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Any forward-looking statements are based on Penumbra’s current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Penumbra makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Penumbra’s business in general, please refer to Penumbra’s preliminary prospectus supplement to be filed with the SEC, including the documents incorporated by reference therein, which includes its Annual Report on Form 10-K filed with the SEC on February 28, 2017 and its subsequent periodic reports filed with the SEC.

Contacts

Investor Relations
Penumbra, Inc.
510-995-2461

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SOURCE Penumbra, Inc.