Date: 2015-10-09
Type of information: IPO
Company: Sarepta Therapeutics (USA - MA)
Investors:
Amount: $127 Million
Funding type: IPO
Planned used: Sarepta intends to use the net proceeds from the offering principally for product and commercial development, manufacturing, any business development activities and for general corporate purposes.
Others: * On October 9, 2015, Sarepta Therapeutics announced the closing of its previously announced underwritten public offering of an aggregate of 3,250,000 shares of its common stock at a price to the public of $39.00 per share. The gross proceeds from the offering, before deducting the underwriter discounts and commissions and other offering expenses, were approximately $127 million. In addition, Sarepta has granted the underwriters a 30-day option to purchase up to an additional 487,500 shares of common stock on the same terms and conditions as the initial shares sold to the underwriters. Credit Suisse and Morgan Stanley acted as joint book-running managers for the offering. In addition, Baird, William Blair, Needham & Company, Oppenheimer & Co. and Roth Capital Partners acted as co-managers for the offering. * On October 6, 2015, Sarepta announced that it has priced an underwritten public offering of an aggregate of 3,250,000 million shares of its common stock at a price to the public of $39.00 per share. In addition, Sarepta has granted the underwriters a 30-day option to purchase up to an additional 487,500 shares of common stock on the same terms and conditions as the initial shares sold to the underwriters. Sarepta anticipates the gross proceeds from the offering, before deducting the underwriter discounts and commissions and other offering expenses, to be approximately $127 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about October 9, 2015, subject to customary closing conditions. * On October 5, 2015, Sarepta Therapeutics announced that it is offering to sell, subject to market and other conditions, up to $125 million of its common stock in an underwritten public offering. Sarepta also intends to grant the underwriters a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering. Credit Suisse and Morgan Stanley are acting as joint book-running managers of the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The shares are being offered by Sarepta pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC).
Therapeutic area: Rare diseases - Genetic diseases - Neuromuscular diseases
