Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares are trading lower Thursday after the company announced it will refinance $700 million worth of 1.25% convertible notes due 2027.
What To Know: Under privately negotiated exchange agreements, Sarepta will swap about $700 million in aggregate principal amount of its existing convertible notes for approximately $602 million in new 4.875% convertible senior notes due 2030, along with up to 6.7 million shares of common stock and about $123.3 million in cash.
