Sarepta exchanges $700M convertible notes for $602M new 4.875% notes due 2030 plus stock and cash

Sarepta Therapeutics, Inc.

Exchanged $700M of 1.25% Convertible Notes due 2027 for $602M of 4.875% Convertible Notes due 2030, 5.85M common shares, and ~$123.3M cash.
New notes mature Sept 1, 2030; initial conversion price ~$60.00/share (191.5% premium over $20.58 close on Aug 20, 2025).
Concurrent private placement of 1,106,806 shares to J. Wood Capital at $18.07 per share.
New notes bear 4.875% cash interest, payable semiannually; callable from Sept 6, 2028 if stock price ≥ 130% of conversion price.
Holders may convert upon stock price triggers (≥130% of conversion price for 20 of 30 days) or specified corporate events.

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