Sarepta Therapeutics Prices $980M Offering of Convertible Senior Unsecured Notes
September 15, 2022
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Sarepta Therapeutics($NASDAQ:SRPT) has priced its offering of $980M aggregate principal amount of convertible senior unsecured notes due 2027. The notes will be senior, unsecured obligations of Sarepta and bear cash interest at a rate of 1.25%, payable on Mar 15 and Sep 15 of each year, beginning on Mar 15, 2023.
Market Price
The notes will be convertible into cash, common stock, or a combination of both, at the company’s option. SAREPTA THERAPEUTICS anticipates using the net proceeds from the offering for working capital and general corporate purposes. This news comes as shares of SAREPTA THERAPEUTICS have been on the rise in recent days. On Wednesday, the stock opened at $104.60 and closed at $107.60, up by 2.3% from its last closing price of $105.20.
VI Analysis
Sarepta Therapeutics is a company with strong long-term potential, but there are some risks to consider before investing. The company’s fundamentals are solid, but the VI Risk Rating indicates that there are some financial and business risks to consider. Specifically, the company’s debt levels are high and it is facing some legal challenges.
However, the company’s strong product pipeline and solid financial position suggest that it is a company worth considering for investment.
Summary
The notes will be convertible into cash, shares of Sarepta’s common stock, or a combination of cash and shares of Sarepta’s common stock, at Sarepta’s option.
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