Ropes & Gray represented Sarepta Therapeutics in its public offering of an aggregate of 2,650,000 shares of its common stock at a price of $38 per share. In addition, Sarepta has granted the underwriters a 30-day option to purchase up to 397,500 additional shares of common stock on the same terms and conditions as the initial shares sold to the underwriters. The gross proceeds from the offerings totaled $100.7 million. Bank of America Merrill Lynch, Morgan Stanley and Deutsche Bank Securities are acting as joint book-running managers for the offering, with Baird, William Blair and Canaccord Genuity acting as co-managers. The transaction closed April 29.
Sarepta intends to use the net proceeds from the offering for business development, manufacturing, the continued development of eteplirsen and other product candidates, and other general corporate purposes.
The Ropes & Gray team was led by capital markets associate Zachary Blume and included capital markets partner Paul Kinsella and tax partner David Saltzman (all of Boston).
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