Sarepta to Float New Stock Issue
Sarepta Therapeutics is to make a public offering of its common stock, the company said in an official statement and in an SEC filing.
The company didn't specify when the issue will be floated or how many shares will be offered; speculation is that the company is aiming to raise around $100 million.
Sarepta also didn't specify what the proceeds were to be used for, saying only that they will be used for "general corporate purposes."
The company did reveal that Lazard Capital Markets is the be the sole book runner for the issue.
The company is currently developing Eteplirsen, a treatment for Duchenne muscular dystrophy, a particularly aggressive form of the disorder.
The article Sarepta to Float New Stock Issue originally appeared on Fool.com.Eric Volkman and The Motley Fool have no positions in Sarepta Therapeutics. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.