Financial

Paragon 28, Inc. Announces Pricing of Initial Public Offering

October 14, 2021

ENGLEWOOD, Colo.–(BUSINESS WIRE)–Paragon 28, Inc. (NYSE: FNA) (“PARAGON”), a leading medical device company exclusively focused on the foot and ankle orthopedic market, today announced the pricing of its initial public offering of 7,812,500 shares of its common stock at a public offering price of $16.00 per share, for total gross proceeds of $125.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the shares are being offered and sold by PARAGON. PARAGON’s common stock is expected to begin trading on the New York Stock Exchange on October 15, 2021, under the ticker symbol “FNA.” The offering is expected to close on October 19, 2021, subject to the satisfaction of customary closing conditions. In addition, PARAGON has granted the underwriters a 30-day option to purchase up to an additional 1,171,875 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

BofA Securities and Piper Sandler are acting as joint lead book-running managers for the offering. Canaccord Genuity is acting as a lead manager. JMP Securities and Needham & Company are acting as co-managers.

A registration statement relating to the shares being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on October 14, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by e-mail at prospectus@psc.com, or by phone at (800) 747-3924.

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

Contacts

Investor Contact:
Gilmartin Group
Matt Bacso, CFA
Matt.bacso@gilmartinir.com

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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