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Medical device maker Penumbra’s $120M IPO soars
San Francisco Business Times

Penumbra is the latest Bay Area health sector company to blast past its IPO marks, with its stock up 33 percent when it opened trading Friday after raising $120 million in an offering that sold more shares and priced higher than expected. It then trimmed those gains to settle into a $39.71 share price in mid-afternoon trade, and closed at $41.35. The Alameda medical device maker’s stock opened at $40 a share. It sold 4 million shares at $30 each on Thursday. It was expected to sell 3.8 million shares for between $25 and $28.