Business
Harrow Announces Proposed Offering of $100 Million of Senior Notes Due 2027 and “BB” Rating from Egan-Jones
NASHVILLE--(BUSINESS WIRE)-- Harrow Health, Inc. (Nasdaq: HROW), an eyecare pharmaceutical company exclusively focused on the discovery, development, and
About this update from Harrow, Inc.
[{"type":"text","content":" NASHVILLE--(BUSINESS WIRE)--\nHarrow Health, Inc. (Nasdaq: HROW), an eyecare pharmaceutical company exclusively focused on the discovery, development, and commercialization of innovative ophthalmic prescription therapies, today announced that it has commenced an underwritten registered public offering of $100 million aggregate principal amount of senior notes due 2027, subject to market and certain other conditions. Harrow expects to grant the underwriters a 30‑day option to purchase an additional 15% of the principal amount of senior notes sold in connection with the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.\n\nHarrow and this issuance of notes both received a rating of “BB” from Egan‑Jones Ratings Company, an independent, unaffiliated rating agency.\n\nThe Company expects to use the net proceeds from the sale of the notes to fund a portion of the purchase price payable for a previously announced acquisition, with any remaining net proceeds available for general corporate purposes, including funding future strategic product acquisitions and related investments, making capital expenditures, and funding working capital.\n\nB. Riley Securities, Janney Montgomery Scott, Ladenburg Thalmann and William Blair are acting as joint book-running managers for the offering. EF Hutton, division of Benchmark Investments, LLC, is acting as lead manager for the offering, and Aegis Capital Corp., Huntington Capital Markets, InspereX, Maxim Group LLC, Newbridge Securities Corporation and Revere Securities LLC are acting as co-managers for the offering.\n\nThe notes will be offered by Harrow under its shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (the “SEC”) on June 6, 2022. The offering of these notes will be made solely by means of a prospectus supplement and accompanying base prospectus, which will be filed with the SEC.\n\nCopies of the prospectus supplement and the accompanying base prospectus may be obtained on the SEC’s website at www.sec.gov, or by contacting B. Riley Securities by phone at (703) 312‑9580, or by emailing [email protected].\n\nThis press release shall not constitute an offer to sell o...