Ropes & Gray Advises Sarepta Therapeutics in $127 Million Public Offering
Ropes & Gray represented Sarepta Therapeutics, Inc. in its underwritten public offering of an aggregate of 3.25 million shares of its common stock at a price of $39 per share, and a 30-day option to the underwriters to purchase up to an additional 487,500 shares of common stock on the same terms and conditions as the initial shares sold to the underwriters. Sarepta anticipates the gross proceeds from the offering to be approximately $127 million. The offering pricing was announced Oct. 6, and the offering is expected to close Oct. 9, subject to customary closing conditions.
Sarepta is a biopharmaceutical company that makes ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and life-threatening diseases.
The Ropes & Gray team was led by securities & public companies partner Paul Kinsella.