Paragon 28 announces offering of 6.5M shares of common stock

Paragon 28 announced the commencement of a proposed underwritten public offering of 6.5M shares of its common stock, consisting of 3.75M shares offered by Paragon and 2.75M shares offered by certain selling securityholders. Paragon intends to use the net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by Paragon, for working capital, capital expenditures and other general corporate purposes. Paragon may also use a portion of the net proceeds to acquire or invest in products, technologies or businesses that are complementary to its business; however, Paragon currently does not have any agreements or commitments to complete any such transactions. Paragon will not receive any proceeds from the sale of common stock offered by the selling securityholders. BofA Securities and Piper Sandler are acting as joint book-running managers for the offering. Canaccord Genuity is acting as a lead manager for the offering. JMP Securities, a Citizens Company, and Needham & Company are acting as co-managers for the offering.