Date: 2016-09-23
Type of information: Private placement
Company: Sarepta Therapeutics (USA - MA)
Investors:
Amount: up to $225 million
Funding type: private placement
Planned used: Sarepta intends to use the net proceeds from the offering principally for the continuation and initiation of further clinical trials, commercialization, manufacturing, business development activities including the potential licensing or acquisition of complementary products and technologies and other general corporate purposes.
Others: * On September 22, 2016, Sarepta Therapeutics announced that it has priced an underwritten public offering of an aggregate of 5.02 million shares of its common stock at a price to the public of $59.75 per share. In addition, Sarepta has granted the underwriters a 30-day option to purchase up to an additional 753,138 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 $300 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about September 28, 2016, subject to customary closing conditions. * On September 21, 2016, Sarepta Therapeutics announced that it is offering to sell, subject to market and other conditions, up to $225 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.
J.P. Morgan and Goldman Sachs are acting as joint book-running managers of the proposed offering. Credit Suisse is also acting as a joint book-runner. The shares are being offered by Sarepta pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. 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.
Therapeutic area: Rare diseases - Genetic diseases
