424B3 1 a424b3.txt 424B3 PROSPECTUS SUPPLEMENT FILED PURSUANT TO RULE 424(b)(3) (TO PROSPECTUS DATED REGISTRATION NO. 333-36958 JUNE 28, 2000) SEPRACOR INC. $460,000,000 PRINCIPAL AMOUNT OF 5% CONVERTIBLE SUBORDINATED DEBENTURES DUE 2007 ------------------------ 4,979,432 SHARES OF COMMON STOCK, $0.10 PAR VALUE PER SHARE ------------------------ The information in this prospectus supplement concerning the Selling Securityholders supplements the statements set forth under the caption "Selling Securityholders" in the prospectus. Capitalized items used and not defined herein shall have the meanings given to them in the prospectus. The information set forth under the caption "Selling Securityholders" in the prospectus is supplemented as follows: SELLING SECURITYHOLDERS We originally sold the debentures on February 14, 2000 to Deutsche Banc Securities, Inc. The initial purchaser of the debentures has advised us that the debentures were resold in transactions exempt from the registration requirements of the Securities Act to (1) "qualified institutional buyers," as defined in Rule 144A of the Securities Act, and (2) outside the United States to certain non-United States person in reliance on Regulation S of the Securities Act. These subsequent purchasers, or their transferees, pledgees, donees or successors, may from time to time offer and sell any or all of the debentures and/or shares of the common stock issuable upon conversion of the debentures pursuant to this prospectus. The debentures and the shares of common stock issuable upon conversion of the debentures have been registered in accordance with to the registration rights agreement. Pursuant to the registration rights agreement, we are required to file a registration statement with regard to the debentures and the shares of our common stock issuable upon conversion of the debentures and to keep the registration statement effective until the earlier of: (1) the sale of all the securities registered pursuant to the registration rights agreement and (2) the expiration of the holding period applicable to these securities under Rule 144(k) under the Securities Act or any successor provision. The selling securityholders may choose to sell debentures and/or the shares of common stock issuable upon conversion of the debentures from time to time. See "Plan of Distribution." The following table sets forth: (1) the name of each selling securityholder who has provided us with notice as of the date of this prospectus pursuant to the registration rights agreement of their intent to sell or otherwise dispose of debentures and/or shares of common stock issuable upon conversion of the debentures pursuant to the registration statement, (2) the principal amount of debentures and the number of shares of our common stock issuable upon conversion of the debentures which they may sell from time to time pursuant to the registration statement, and 1 (3) the amount of outstanding debentures and our common stock beneficially owned by the selling securityholder prior to the offering, assuming no conversion of the debentures. To our knowledge, no selling securityholder nor any of its affiliates has held any position or office with, been employed by or otherwise has had any material relationship with us or our affiliates, during the three years prior to the date of this prospectus. A selling securityholder may offer all or some portion of the debentures and shares of the common stock issuable upon conversion of the debentures. Accordingly, no estimate can be given as to the amount or percentage of debentures or our common stock that will be held by the selling securityholders upon termination of sales pursuant to this prospectus. In addition, the selling securityholders identified below may have sold, transferred or disposed of all or a portion of their debentures since the date on which they provided the information regarding their holdings in transactions exempt from the registration requirements of the Securities Act. The information contained under the column heading "Shares That May be Sold" assumes conversion of full amount of the debentures held by the holder at the initial rate of $92.38 in principal amount of the debentures per share of the common stock.
AMOUNT OF 5% SHARES OF AMOUNT OF 5% DEBENTURES COMMON STOCK DEBENTURES THAT OWNED BEFORE SHARES THAT MAY OWNED BEFORE NAME MAY BE SOLD OFFERING BE SOLD OFFERING ---- --------------- ------------ --------------- ------------ ABN AMRO Incorporated................. $ 4,250,000 4,250,000 46,005 0 AIG/National Union Fire Insurance..... 600,000 600,000 6,494 20,055(1) Allstate Insurance Company............ 1,850,000 1,850,000 20,025 91,627(2) Argent Classic Convertible Arbitrage Fund................................ 3,000,000 3,000,000 32,474 0 Argent Convertible Arbitrage Fund Ltd................................. 1,000,000 1,000,000 10,824 0 Aristeia International Ltd............ 5,000,000 5,000,000 54,124 0 Aristeia Trading, L.P................. 3,000,000 3,000,000 32,474 0 Bank Austria Cayman Island, Ltd....... 3,000,000 3,000,000 32,474 0 Bear, Stearns & Co. Inc............... 3,500,000 3,500,000 37,886 64,064(2) Black Diamond Offshore, Ltd........... 1,344,000 1,344,000 14,548 0 BNP Arbitrage SNC..................... 10,312,000 10,312,000 111,625 0 BNP Cooper Neff Convertible Strategies Fund, L.P........................... 688,000 688,000 7,447 0 Boulder II Limited.................... 9,500,000 9,500,000 102,836 70,470(2) Chrysler Corporation Master Retirement Trust............................... 3,385,000 3,385,000 36,642 0 CIBC World Markets.................... 8,000,000 8,000,000 86,598 0 CIBC World Markets International Arbitrage Corp...................... 32,000,000 32,000,000 346,395 0 Clinton Riverside Convertible Portfolio Limited................... 4,000,000 4,000,000 43,299 0 Credit Suisse First Boston Corporation......................... 5,000,000 5,000,000 54,124 0 Delaware PERS......................... 1,600,000 1,600,000 17,319 0 Delphi Foundation, Inc................ 60,000 60,000 649 0 Deutsche Bank Securities.............. 184,025,000 184,025,000 1,992,043 0 Diversifvied Arbitrage................ 250,000 250,000 2,706 0 Double Black Diamond Offshore, LDC.... 4,315,000 4,315,000 46,709 0
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AMOUNT OF 5% SHARES OF AMOUNT OF 5% DEBENTURES COMMON STOCK DEBENTURES THAT OWNED BEFORE SHARES THAT MAY OWNED BEFORE NAME MAY BE SOLD OFFERING BE SOLD OFFERING ---- --------------- ------------ --------------- ------------ Fidelity Financial Trust: Fidelity Convertible Securities Fund(4)............................. 2,000,000 2,000,000 21,649 0 Forest Alternative Strategies Fund II L.P. A5M............................ 700,000 700,000 7,577 0 Forest Fulcrum Fund LP................ 5,800,000 5,800,000 62,784 0 Forest Global Convertible Fund........ 20,165,000 20,165,000 218,283 0 Forest Performance Fund L.P........... 1,800,000 1,800,000 19,484 0 Gaia Offshore Master Fund Ltd......... 1,500,000 1,500,000 16,237 0 General Motors Arbitrage.............. 250,000 250,000 2,706 0 General Motors Employee Global Group Pension Trust....................... 8,784,000 8,784,000 95,085 0 General Motors Foundation............. 528,000 528,000 5,715 0 General Motors LT..................... 250,000 250,000 2,706 0 Goldman Sachs and Company............. 500,000 500,000 5,412 0 Grace Brothers, Ltd................... 2,000,000 2,000,000 21,649 0 Highbridge International.............. 7,500,000 7,500,000 81,186 0 ICI American Holdings................. 850,000 850,000 9,201 0 Island Holdings....................... 30,000 30,000 324 422(1) Jeffries & Co......................... 10,000,000 10,000,000 108,248 0 JMG Capital Partners, L.P............. 2,750,000 2,750,000 29,768 0 KBC Financial Products................ 6,000,000 6,000,000 64,949 0 LDG Limited........................... 425,000 425,000 4,600 27,916(1)(2) Lehman Brothers Inc................... 2,300,000 2,300,000 24,897 188,988(2) LLT Limited........................... 2,200,000 2,200,000 23,814 0 Luxor Master Fund..................... 1,860,000 1,860,000 20,134 0 Merrill Lynch, Pierce, Fenner and Smith Inc........................... 2,250,000 2,250,000 24,355 21,973(2) Morgan Stanley & Co................... 6,000,000 6,000,000 64,949 0 Motion Picture Industry Health Plan-- Active Member Fund.................. 705,000 705,000 7,631 0 Motion Picture Industry Health Plan-- Retiree Member Fund................. 355,000 355,000 3,842 0 Motors Insurance Corporation.......... 2,628,000 2,628,000 28,447 0 Nalco Chemical Company................ 225,000 225,000 2,435 7,607(2) Nomura Securities International Inc................................. 7,000,000 7,000,000 75,773 75,500 OCM Convertible Trust................. 2,995,000 2,995,000 32,420 0 Onex Industrial Partners Ltd.......... 1,500,000 1,500,000 16,237 49,649(2) Partner Reinsurance Company Ltd....... 430,000 430,000 4,654 0 Pebble Capital Inc.................... 1,000,000 1,000,000 10,824 14,286(2) Q Investments, L.P.................... 3,000,000 3,000,000 32,474 24,024(2) R2 Investments, LDC................... 7,000,000 7,000,000 75,773 56,356(3) Salomon Brothers Asset Management Inc...................... 4,000,000 4,000,000 43,299 0 Silvercreek Limited Partnership....... 2,000,000 2,000,000 21,649 33,761(2) Starvest Combined Portfolio........... 700,000 700,000 7,577 11,610(1)
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AMOUNT OF 5% SHARES OF AMOUNT OF 5% DEBENTURES COMMON STOCK DEBENTURES THAT OWNED BEFORE SHARES THAT MAY OWNED BEFORE NAME MAY BE SOLD OFFERING BE SOLD OFFERING ---- --------------- ------------ --------------- ------------ State Employees' Retirement Fund of the State of Delaware............... 3,070,000 3,070,000 33,232 0 State of Connecticut Combined Investment Fund..................... 7,175,000 7,175,000 77,668 0 State of Oregon Equity................ 5,100,000 5,100,000 55,206 0 TCW Group, Inc........................ 29,600,000 29,600,000 320,415 0 TQA Master Plus Fund, Ltd............. 1,750,000 1,750,000 18,943 0 TQA Master Fund, Ltd.................. 1,750,000 1,750,000 18,943 0 Tribeca Investments LLC............... 15,000,000 15,000,000 162,372 0 Vanguard Convertible Securities Fund, Inc........................... 6,730,000 6,730,000 72,851 0 White River Securities LLC............ 3,500,000 3,500,000 37,886 0 Worldwide Transactions, Ltd........... 341,000 341,000 3,691 2,642(2) Zeneca Holdings Trust................. 650,000 650,000 7,036 0 Zurich HFR Master Hedge Fund.......... 100,000 100,000 1,082 0
------------------------ (1) Assumes conversion of the full amount of 6.25% convertible subordinated debentures due 2005 held by the holder at the rate of $23.6845 in principal amount of the debentures per share of the common stock. (2) Assumes conversion of the full amount of 7% convertible subordinated debentures due 2005 held by the holder at the rate of $62.4375 in principal amount of the debentures per share of the common stock. (3) Assumes conversion of $3,500,000 of 7% convertible subordinated debentures due 2005 held by R2 Investments, LDC at the rate of $62.4375 in principal amount of the debentures per share of the common stock. (4) The entity is either an investment company or a portfolio of an investment company registered under Section 8 of the Investment Company Act of 1940, as amended, or a private investment account advised by Fidelity Management & Research Company ("FMR Co."). FMR Co. is a Massachusetts corporation and an investment advisor registered under Section 203 of the Investment Advisors Act of 1940, as amended, and provides investment advisory services to each of such Fidelity entities identified above, and to other registered investment companies and to certain other funds which are generally offered to a limited group of investors. FMR Co. is a wholly-owned subsidiary of FMR Corp., a Massachusetts corporation. The date of this Prospectus Supplement is July 17, 2000. 4