Penumbra Obtains $120,000,000 New Financing

  • Feed Type
  • Date
    9/18/2015
  • Company Name
    Penumbra
  • Mailing Address
    1351 Harbor Bay Pkwy Alameda, CA 94502 USA
  • Company Description
    Penumbra, Inc. (NYSE: PEN) is a medical device company founded in 2004 with its headquarters in San Leandro, California. Penumbra develops and manufactures innovative and minimally invasive medical devices for patients who are at risk for or have suffered a stroke.
  • Website
    http://www.penumbrainc.com
  • Transaction Type
    IPO
  • Transaction Amount
    $120,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The principal purposes of this offering are to increase our capitalization and financial flexibility, create a public market for our common stock and enable access to the public equity markets for us and our stockholders. We intend to use the net proceeds from this offering for product development, including research and development and clinical trials, expansion of our salesforce and for working capital and general corporate purposes. From time to time, we may consider the acquisition of complementary technologies or businesses, though we have no agreements or understandings with respect to any such acquisitions at this time. We currently have no specific plans for the use of the net proceeds that we receive from this offering. Accordingly, we will have broad discretion in using these proceeds. Pending the use of the net proceeds from this offering, we intend to invest the net proceeds in investment grade, interest bearing securities.
  • M&A Terms

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