Paragon 28 Inc. (FNA) reports earnings
Paragon 28 Inc. (FNA) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing includes details of an Agreement and Plan of Merger with Zimmer, Inc., a wholly owned subsidiary of Zimmer Biomet Holdings, Inc. filing
The merger agreement, signed on January 28, 2025, states that Paragon 28 will merge with Gazelle Merger Sub I, Inc., a subsidiary of Zimmer. Upon completion, Paragon 28 will become a wholly owned subsidiary of Zimmer.
Under the terms of the agreement, each outstanding share of Paragon 28's common stock will be converted into the right to receive $13.00 in cash and one contractual contingent value right, which may provide up to an additional $1.00 per share.
The merger is subject to customary closing conditions, including approval by Paragon 28's stockholders and regulatory approvals. The merger agreement includes a termination fee of $40 million payable under certain circumstances.
Paragon 28 focuses on the foot and ankle orthopedic market, providing a comprehensive portfolio of solutions including surgical implants and instrumentation. The company has experienced significant growth and aims to improve patient outcomes.
The filing also highlights the company's strategies for growth, including investment in research and development, expansion of its commercial infrastructure, and pursuit of strategic business development opportunities.
Paragon 28 operates in a competitive market with large multinational companies and emphasizes its exclusive focus on the foot and ankle market as a key differentiator.
The filing outlines various risk factors, including potential challenges in completing the merger, dependence on third-party manufacturers, and the competitive nature of the medical device industry.
The company reported a market value of $317.6 million for its common equity held by non-affiliates as of June 30, 2024, and had 83,894,974 shares of common stock outstanding as of March 3, 2025.
Paragon 28's intellectual property portfolio includes 366 owned and issued patents, with additional patents in development to support its product offerings in the foot and ankle market.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Paragon 28 Inc. annual 10-K report dated March 6, 2025. To report an error, please email [email protected].