Sarepta Therapeutics Announces Pricing of $500,000,000 Public Offering of Common Stock

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CAMBRIDGE, Mass., Nov. 08, 2018 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a leader in precision genetic medicine for rare diseases, today announced that it has priced an underwritten public offering of an aggregate of 3,817,000 shares of its common stock at a price to the public of $131.00 per share. In addition, Sarepta has granted the underwriters a 30-day option to purchase up to an additional 572,550 shares of its 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 $500,000,000, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about November 13, 2018, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the proposed offering. Cowen and Company LLC is acting as sole lead manager. In addition, William Blair & Company, L.L.C., Robert W. Baird & Co. Incorporated, Nomura Securities International, Inc., Cantor Fitzgerald & Co. and H.C. Wainwright & Co. LLC are acting as co-managers.

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.

The shares are being offered by Sarepta pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from the offices of Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at ; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by telephone at (800) 221-1037. 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. 

Source: Sarepta Therapeutics, Inc.

Media and Investors: Sarepta Therapeutics, Inc. Ian Estepan, 617-274-4052

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W2O Group Jerica Pitts, 312-858-3469

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Globe Newswire: 00:13 GMT Friday 9th November 2018

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