Sarepta Therapeutics (SRPT) Prices 5.02M Shares at $59.75
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Sarepta Therapeutics, Inc. (NASDAQ: SRPT) 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.
J.P. Morgan and Goldman, Sachs & Co. are acting as joint book-running managers of the proposed offering. Credit Suisse is also acting as a joint book-runner. In addition, Baird, Needham & Company, Oppenheimer & Co., Wedbush PacGrow and WBB Securities, are acting as co-managers for the offering.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Alere (ALR) Comments on Abbott (ABT) Complaint; Believes Suit is 'Without Merit'
- Hain Celestial (HAIN) Appoints New COO, Other Executives
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesCredit Suisse, JPMorgan, Robert W Baird, Needham & Company, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!