Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 465

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 9A
Chunk 465
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apped Calls of $43.9 million on the Effective Date from stockholders’ equity to derivative assets. As a result of the conversion, the Company ultimately received $45.3 million in cash to settle the remaining 2017 Capped Calls on November 15, 2024. The change in the fair value of the derivative assets from the Effective Date to Maturity Date was a gain of $1.5 million and recorded to other income (expense), net in the consolidated statements of comprehensive income (loss). There were no derivative assets remaining as of December 31, 2024.Total Debt ObligationsAs of December 31, 2024 and 2023, the Company recorded approximately $1,137.1 million and $1,238.0 million as debt on the consolidated balance sheets, respectively. As of December 31, 2023, the Company reclassified the balance of the 2024 Notes from long-term debt to current liabilities on its consolidated balance sheets, as the 2024 Notes matured in less than twelve months. As of December 31, 2024, all debt was long-term in nature.  The following table summarizes the Company’s debt instruments for the periods indicated: 

        As of December 31,

        2024

        2023

        (in thousands)

        Principal amount of the 2027 Notes
         
        $
        1,150,000

        $
        1,150,000

        Principal amount of the 2024 Notes

        —

        105,847

        Unamortized discount - debt issuance costs of 2027 Notes

        (12,876
        )

        (17,485
        )

        Unamortized discount - debt issuance costs of 2024 Notes

        —

        (364
        )

        Total carrying value of debt instruments
         
        $
        1,137,124

        $
        1,237,998

        Fair value of 2027 Notes
         
        $
        1,254,857

        $
        1,172,276

        Fair value of 2024 Notes

        —

        144,833

        Total fair value of debt instruments
         
        $
        1,254,857

        $
        1,317,109

        For the years ended December 31, 2024, 2023 and 2022, the Company