Paragon 28, Inc. Announces Closing of Underwriters' Option to Purchase Additional Shares in Connection with Public Offering of Common Stock

Feb 17, 2023

Paragon 28, Inc. (NYSE: FNA) (“Paragon”), a leading medical device company exclusively focused on the foot and ankle orthopedic market, announced today completion of the sale of an additional 975,000 shares of its common stock, pursuant to the exercise in full of the option to purchase additional shares granted to the underwriters in connection with Paragon’s recently completed underwritten public offering of 6,500,000 shares of common stock, at a public offering price of $17.00 per share, before underwriting discounts and commissions. 562,500 shares were sold by Paragon and 412,500 shares were sold by certain selling securityholders. After giving effect to the sale of these additional shares, a total of 4,312,500 shares were sold by Paragon and 3,162,500 shares were sold by the selling securityholders in the offering. Paragon received aggregate gross proceeds of approximately $73.3 million in the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Paragon. Paragon did not receive any proceeds from the sale of common stock by the selling securityholders.

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