Sarepta Restructures $700 Mln Convertible Notes To Boost Balance Sheet And Extend Maturity To 2030

(RTTNews) - Sarepta Therapeutics, Inc. (SRPT) has entered into private exchange agreements with select holders of its 1.25 percent convertible senior notes due 2027.

The company will swap approximately $700 million of existing notes for $602 million of new 4.875 percent convertible senior notes due 2030, up to 6.7 million shares of common stock, and about $123 million in cash. The new notes carry a conversion price of roughly $60 per share, representing a 191.5 percent premium to Sarepta's recent stock price.

Sarepta also entered a subscription agreement with J. Wood Capital Advisors LLC for a private placement of up to 1.4 million shares, with both transactions expected to close on or around August 28, 2025. Following the exchange, $450 million of the original 2027 notes will remain outstanding.

CEO Doug Ingram stated that extending note maturity to 2030 strengthens Sarepta's financial flexibility, positioning the company to fund its pipeline, including upcoming siRNA program readouts, while meeting near-term obligations and advancing its mission to transform treatment for rare diseases.

SRPT currently trades at $19.25 or 6.46% lower on the NasdaqGS.