CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jun. 9, 2016--
Sarepta Therapeutics, Inc. (Nasdaq: SRPT), a developer of innovative
RNA-targeted therapeutics, today announced that Sarepta, through Credit
Suisse and Robert W. Baird & Co., agreed to sell an amount of its common
stock equal to approximately $37.5 million in gross proceeds in an
underwritten offering, before deducting underwriting discounts and
commission and other estimated offering expenses.
Credit Suisse and Robert W. Baird & Co. are acting as joint book-running
managers of the offering. The underwriters may offer the shares of
common stock from time to time to purchasers directly or through agents,
or through brokers in brokerage transactions on the Nasdaq Global Select
Market, or to dealers in negotiated transactions or in a combination of
such methods of sale, at a fixed price or prices, which may be changed,
or at market prices prevailing at the time of sale, at prices related to
such prevailing market prices or at negotiated prices.
Sarepta intends to use the net proceeds from the intended sale
principally for product and commercial development, manufacturing, any
business development activities and other general corporate purposes.
The shares are being offered and sold pursuant to an effective shelf
registration statement that was previously filed with the Securities and
Exchange Commission (SEC). A final prospectus supplement relating to and
describing the terms of the offering will be filed with the SEC and will
be available on the SEC’s website at www.sec.gov.
When available, copies of the final prospectus supplement relating to
these securities may also be obtained from the offices of Credit Suisse
Securities (USA) LLC, Attention: Prospectus Department, One Madison
Avenue, New York, NY, 10010, or by emailing newyork.prospectus@credit-suisse.com
or at the office of Robert W. Baird & Co. Attention: Syndicate
Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, Telephone:
800-792-2413, Email: syndicate@rwbaird.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of Sarepta, nor shall
there be any sale of securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Sarepta Therapeutics
Sarepta Therapeutics is a
biopharmaceutical company focused on the discovery and development of
unique RNA-targeted therapeutics for the treatment of rare, infectious
and other diseases. The Company is primarily focused on rapidly
advancing the development of its potentially disease-modifying DMD drug
candidates, including its lead DMD product candidate, eteplirsen,
designed to skip exon 51. Sarepta is also developing therapeutics for
the treatment of rare, infectious and other diseases.
Forward-Looking Statements and Information
This press
release contains statements that are forward-looking, including the
statements about the completion of the offer and sale of Sarepta’s
common stock, within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements involve risks and uncertainties, many of
which are beyond Sarepta’s control. There can be no assurance that the
offering will be completed on the anticipated terms, or at all.
Applicable risks also include those that are included in the “Risk
Factors” section of Sarepta’s Annual Report on Form 10-K for the year
ended December 31, 2015, and any subsequent SEC filings, including the
prospectus supplement related to the offering to be filed with the SEC.
Any forward-looking statement in this press release represents Sarepta’s
views only as of the date of this press release and should not be relied
upon as representing its views as of any subsequent date. Sarepta does
not undertake any obligation to publicly update its forward-looking
statements based on events or circumstances after the date hereof,
except as required by applicable law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160609005323/en/
Source: Sarepta Therapeutics, Inc.
Media and Investors:
Sarepta Therapeutics, Inc.
Media
and Investors:
Ian Estepan, 617-274-4052
iestepan@sarepta.com
or
W2O
Group
Brian Reid, 212-257-6725
breid@w2ogroup.com
