Shearman And Sterling

News October 19, 2021

Paragon 28’s Initial Public Offering

Shearman & Sterling advised the underwriters of Paragon 28, Inc.’s initial public offering of 8,984,375 shares of common stock at a public offering price of $16.00 per share, resulting in gross proceeds to the company of approximately $144 million, before deducting underwriting discounts and commissions and offering expenses. The 8,984,375 shares included 1,171,875 of shares issued pursuant to the underwriters’ option to purchase additional shares. The shares began trading on The New York Stock Exchange under the ticker symbol “FNA” on October 15, 2021.

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

Paragon 28 is a leading medical device company exclusively focused on the foot and ankle orthopedic market.

The Shearman & Sterling team below included associates Matthew Brown (New York—Tax) and Austin Grossfeld (New York—IP Transactional).

The Team