# EDGAR Filing Document

**Accession Number:** 0000873303
**File Stem:** 0001193125-25-315032
**Filing Date:** 2025-12
**Character Count:** 16064
**Document Hash:** 9421a339570927ded41440e49692facc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-315032.hdr.sgml**: 20251211

**ACCESSION NUMBER**: 0001193125-25-315032

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251210

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251211

**DATE AS OF CHANGE**: 20251211

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sarepta Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0000873303
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 930797222
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14895
- **FILM NUMBER:** 251563503

**BUSINESS ADDRESS:**
- **STREET 1:** 215 FIRST STREET
- **STREET 2:** SUITE 415
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02142
- **BUSINESS PHONE:** 617-274-4000

**MAIL ADDRESS:**
- **STREET 1:** 215 FIRST STREET
- **STREET 2:** SUITE 415
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02142

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sarepta Therapuetics, Inc.
- **DATE OF NAME CHANGE:** 20120712

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AVI BIOPHARMA INC
- **DATE OF NAME CHANGE:** 19980930

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ANTIVIRALS INC
- **DATE OF NAME CHANGE:** 19970123

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): December 10, 2025

## Sarepta Therapeutics, Inc.

#### (Exact name of Registrant as Specified in Its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-14895** | **93-0797222** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer<br>Identification No.)** |
| **215 First Street** |  |  |
| **Cambridge, Massachusetts** |  | **02142** |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

#### Registrant's Telephone Number, Including Area Code: (617) 274-4000

#### (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

#### Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common Stock, $0.0001 par value per share | SRPT | NASDAQ Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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---

| | |
|:---|:---|
| **Item 3.02** | **Unregistered Sales of Equity Securities.**  |

---

*Exchange Transaction* 

On December 10, 2025, Sarepta Therapeutics, Inc. (the "Company") entered into separate, privately negotiated exchange agreements (the "Exchange Agreements") with certain holders of its 1.25% Convertible Senior Notes due 2027 (the "Existing Convertible Notes"), including the Michael A. Chambers Living Trust, an entity affiliated with Michael Chambers, a member of the Company's board of directors. Under the terms of the Exchange Agreements, the holders party thereto have agreed to exchange with the Company approximately $291.4 million in aggregate principal amount of Existing Convertible Notes held by them for (i) approximately $291.4 million in aggregate principal amount of 4.875% Convertible Senior Notes due 2030 (the "New Convertible Notes"), which is equal to $1,000 of New Convertible Notes per $1,000 principal amount of Existing Convertible Notes exchanged, and (ii) an aggregate of approximately $31.6 million in cash, which is equal to approximately $108.50 per $1,000 principal amount of Existing Convertible Notes exchanged and comprised of accrued and unpaid interest on $1,000 principal amount of Existing Convertible Notes, plus $120.17, less deemed accrued and unpaid interest on $1,000 principal amount of New Convertible Notes from August 28, 2025 (such exchanges, collectively, the "Exchange").

The New Convertible Notes will constitute "additional Notes" under the Indenture, dated as of August 28, 2025 between the Company and U.S. Bank Trust Company, National Association, as trustee (the "New Convertible Notes Indenture"), governing the Company's 4.875% Convertible Senior Notes due 2030 and will be issued pursuant to the terms thereof. The New Convertible Notes will be issued as part of the same series as the approximately $602 million of 4.875% Convertible Senior Notes due 2030 originally issued in August 2025. Following the closing of the Exchange, the aggregate principal amount of the Company's 4.875% Convertible Senior Notes due 2030 will total $893.4 million.

The foregoing description of the New Convertible Notes Indenture and the New Convertible Notes does not purport to be complete and is qualified in its entirety by reference to the New Convertible Notes Indenture and form of Note, which are filed as Exhibits 4.1 and 4.2 to the Company's Current Report on Form 8-K filed on August 29, 2025 and are incorporated herein by reference.

The Exchange is expected to close on or about December 18, 2025, subject to customary closing conditions. The issuance of the New Convertible Notes will occur pursuant to the New Convertible Notes Indenture and the first supplemental indenture thereto, to be dated on or around December 18, 2025, between the Company and U.S. Bank Trust Company, National Association, as trustee.

The issuance of the New Convertible Notes under the Exchange Agreements is being made in reliance on the exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), provided by Section 4(a)(2) of the Securities Act. The Company relied on this exemption from registration based, in part, on representations made by the holders of the Existing Convertible Notes party to the Exchange Agreements. The New Convertible Notes will be issued only to investors that qualified as institutional "accredited investors" (as such term is defined in Rule 501 of the Securities Act) and/or "qualified institutional buyers" (as such term is defined in Rule 144A of the Securities Act).

The New Convertible Notes and the shares of the Company's common stock, $0.0001 par value per share, issuable upon conversion thereof, if any, have not been registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and such other jurisdictions.

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events**  |

---

On December 11, 2025, the Company issued a press release announcing the Exchange. A copy of this press release is attached hereto as Exhibit 99.1.

#### Forward-Looking Statements
*This Current Report on Form 8-K contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including, but not limited to, statements about the completion of the* 

------

 *proposed Exchange. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include, without limitation, satisfaction of customary closing conditions related to the proposed Exchange and that the Company may not be able to consummate the Exchange on the terms described herein. In addition, applicable risks also include those that are listed under the heading "Risk Factors" and elsewhere in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, and in the Company's subsequent filings with the Securities and Exchange Commission. Except as otherwise noted, these forward-looking statements speak only as of the date of this Form 8-K. All forward-looking statements are qualified in their entirety by this cautionary statement.* 

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 99.1 | [Press Release dated December 11, 2025](d55628dex991.htm) |
| 104 | The cover page from this Current Report on Form 8-K of Sarepta Therapeutics, Inc., formatted in Inline XBRL and included as Exhibit 101 |

---

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | **Sarepta Therapeutics, Inc.** |
| Date: December 11, 2025 | By: | /s/ Ian Estepan |
|  |  | Ian Estepan<br> President and Chief Operating Officer |

---

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g55628g1211100042834.jpg)

**Sarepta Therapeutics Announces Refinancing of Approximately $291 Million of 1.25% Convertible Senior Notes due 2027** 

CAMBRIDGE, Mass., December 11, 2025 (BUSINESS WIRE) — Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today announced that it has entered into separate, privately negotiated exchange agreements with a limited number of holders of its 1.25% convertible senior notes due 2027 (the "Existing Convertible Notes"). Pursuant to the exchange agreements, the Company will exchange approximately $291.4 million in aggregate principal amount of the Existing Convertible Notes for approximately $291.4 million in aggregate principal amount of new 4.875% convertible senior notes due 2030 (the "New Convertible Notes") and approximately $31.6 million in cash (such exchanges, collectively, the "Exchange"), in each case pursuant to exemptions from registration under the Securities Act of 1933, as amended (the "Securities Act").

The Exchange is expected to close on or about December 18, 2025, subject to customary closing conditions. The issuance of the New Convertible Notes will occur pursuant to the indenture related to the New Convertible Notes, dated as of August 28, 2025, between the Company and U.S. Bank National Association, as trustee, and the first supplemental indenture thereto. The New Convertible Notes will be issued as part of the same series as the approximately $602 million of 4.875% convertible senior notes due 2030 originally issued in August 2025, and following the closing of the Exchange, the aggregate principal amount of the Company's 4.875% Convertible Senior Notes due 2030 will total $893.4 million. Following the closing of the Exchange, approximately $158.6 million in aggregate principal amount of the Existing Convertible Notes will remain outstanding with terms unchanged.

The offer and sale of the New Convertible Notes, including the Company's common stock, par value $0.0001 per share ("Common Stock"), issuable upon conversion of the New Convertible Notes, if any, are not being registered under the Securities Act, or any state securities laws. The New Convertible Notes and Common Stock, including Common Stock issuable upon conversion, if any, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and any applicable state securities laws.

In connection with the Exchange, the Company has been advised that the placement agent intends to purchase approximately 691,000 shares of the Company's common stock in privately negotiated transactions from certain investors participating in the Exchange through a financial intermediary at a discount to the last reported sale price of the Company's common stock on December 10, 2025. Such purchases by the placement agent of the Company's common stock could increase (or reduce the size of any decrease in) the market price of the common stock, the New Convertible Notes or the Existing Convertible Notes.

------

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such jurisdiction.

***About Sarepta Therapeutics***

Sarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold leadership positions in Duchenne muscular dystrophy (Duchenne) and are building a robust portfolio of programs across muscle, central nervous system, and cardiac diseases.

***Internet Posting of Information***

*We routinely post information that may be important to investors in the 'For Investors' section of our website at <u>www.sarepta.com</u>. We encourage investors and potential investors to consult our website regularly for important information about us.* 

***Forward-Looking Statements***

*In order to provide Sarepta's investors with an understanding of its current results and future prospects, this press release contains statements that are forward-looking. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," "may," "intends," "prepares," "looks," "potential," "possible" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements relating to the Exchange, including the timing of the closing of the Exchange.* 

*These forward-looking statements involve risks and uncertainties, many of which are beyond Sarepta's control. Actual results could materially differ from those stated or implied by these forward-looking statements as a result of such risks and uncertainties. Known risk factors include the following: that we may not be able to consummate the Exchange on the anticipated terms, or at all; that we may not be able to execute on our business plans; and those risks identified under the heading "Risk Factors" in our most recent Annual Report on Form 10-K for the year ended December 31, 2024 and our most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) as well as other SEC filings made by the Company which you are encouraged to review.* 

Source: Sarepta Therapeutics, Inc.

***Investor Contact:***

Ian Estepan

617-274-4052

<u>iestepan@sarepta.com</u> 

Ryan Wong

617-800-4112

<u>rwong@sarepta.com</u> 

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***Media Contacts:***

Tracy Sorrentino

617-301-8566

<u>tsorrentino@sarepta.com</u>

Kara Hoeger

617-710-3898

<u>khoeger@sarepta.com</u>