Davis Polk advised Penumbra, Inc. on its SEC-registered initial public offering of 4,600,000 shares of common stock for an aggregate price to the public of approximately $138 million, including 600,000 shares sold pursuant to the underwriters’ option to purchase additional shares. The shares are listed on the New York Stock Exchange under the symbol “PEN.”   

Headquartered in Alameda, California, Penumbra, Inc. is a global interventional therapies company that designs, develops, manufactures and markets innovative medical devices. The company has a broad portfolio of products that address challenging medical conditions and significant clinical needs across two major markets, neuro and peripheral vascular. Penumbra has approximately 1,000 employees and sells its products to hospitals primarily through its direct sales organization in the U.S., most of Europe, Canada and Australia, and through distributors in select international markets.  

The Davis Polk corporate team included partner Alan F. Denenberg and associates Jason Bassetti and Donald K. Lang. The intellectual property team included partner Frank J. Azzopardi and associates Natalie A. Thomas and Kevin A. Bensley. Partner Rachel D. Kleinberg and associate Nicole P. Field provided tax advice. Counsel Cynthia Akard provided executive compensation advice. Associate Colleen Blanco provided Investment Company Act advice. Kimberly Kakade, Members of the Davis Polk team are based in the Northern California and New York offices.   

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