---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-192794"
form_type: "8-K"
ticker: "SRPT"
cik: "0000873303"
company_name: "Sarepta Therapeutics, Inc."
filed_at: "2025-08-29T23:59:59+00:00"
generated_at: "2026-05-17T09:21:38.077743+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-192794
- form_type: 8-K
- ticker: SRPT
- cik: 0000873303
- company_name: Sarepta Therapeutics, Inc.
- filed_at: 2025-08-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/873303/000119312525192794/0001193125-25-192794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/873303/000119312525192794/d945054d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-192794
- JSON: https://secwatch.observer/filing/0001193125-25-192794.json
- Plain text: https://secwatch.observer/filing/0001193125-25-192794.txt

## Key facts
- Debt Financings
  Sarepta Therapeutics, Inc. incurred convertible notes of $602.0 million in aggregate principal amount with U.S. Bank Trust Company, National Association at 4.875% maturing September 1, 2030.
  - Instrument: convertible notes
  - Principal: $602.0 million in aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 4.875%
  - Maturity: September 1, 2030
  - Event: incurrence
  source text: party thereto agreed to exchange with the Company $700.0 million in aggregate principal amount of Existing Convertible Notes held by them for consideration consisting of (i) $602.0 million in aggregate principal amount of 4.875% Convertible Senior Notes due 2030 (the “New Convertible Notes”), (ii) an aggregate of 5,851,693 shares of the Company’s common stock, par
  evidence_url: https://www.sec.gov/Archives/edgar/data/873303/000119312525192794/0001193125-25-192794-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.