07:39 AM EDT, 08/21/2025 (MT Newswires) -- Sarepta Therapeutics ( SRPT ) said Thursday it has entered into separate exchange agreements with certain holders of its convertible senior notes.

Under the agreements, the company will exchange about $700 million of its 1.25% convertible senior notes due 2027 for about $602 million of new 4.875% convertible senior notes due 2030, up to about 6.7 million common shares, and about $123.3 million in cash.

The new notes have an initial conversion rate of 16.6667 shares of common stock per $1,000 principal amount of the new notes, or an initial conversion price of $60 per share.

Sarepta also signed a subscription agreement with J. Wood Capital Advisors for a private placement of up to 1.4 million shares.

The transactions are expected to close on or about Aug. 28.