Company: SRPT
Filing Date: 2025-08-21
Form Type: 8-K
Source: 0001193125-25-184625
Chunk: 1

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-08-21
Form: 8-K
Item: Item 3.02
Chunk 1
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 in certain circumstances and during specified periods, and on or after March 1, 2030 at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Company will settle conversions of the Notes through payment or delivery, as the case may be, of cash, shares of Common Stock of the Company or a combination of cash and shares of Common Stock, at the Company’s option (subject to, and in accordance with, the settlement provisions of the Indenture). The conversion rate is subject to adjustment in some events but will not be adjusted for any accrued and unpaid special interest, if any.

The New Convertible Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, on or after September 6, 2028 and before the 21st scheduled trading day immediately preceding the maturity date, but only if the last reported sale price per share of Common Stock exceeds 130% of the conversion price for a specified period of time. The redemption price will be equal to the principal amount of the New Convertible Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. If the Company undergoes a “fundamental change” (as defined in the indenture governing the New Convertible Notes), holders of the New Convertible Notes may require the Company to repurchase for cash all or any portion of their New Convertible Notes at a repurchase price equal to 100% of the principal amount of the New Convertible Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the repurchase date.

The Exchange is expected to close on or about August 28, 2025, subject to customary closing conditions. The issuance of the New Convertible Notes will occur pursuant to an indenture related to the New Convertible Notes, to be dated on or around August 28, 2025, between the Company and U. S. Bank Trust Company, National Association, as trustee.

Private Placement Transaction

Also on August 20, 2025, the Company entered into a privately negotiated subscription agreement (the “ Subscription Agreement”) with J. Wood Capital Advisors LLC (“ JWCA”) for the private placement of a number of shares of Common Stock (the “ PIPE Shares”), equal to the quotient of (1) $20.0 million and (2) the greater of (x) the last reported sale