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Harrow Health Announces Full Exercise and Closing of Option to Purchase Additional Senior Notes
NASHVILLE, Tenn., May 05, 2021 (GLOBE NEWSWIRE) -- Harrow Health, Inc. (NASDAQ: HROW) (“Harrow Health” or the “Company”), an ophthalmic-focused healthcare
About this update from Harrow, Inc.
[{"type":"text","content":"NASHVILLE, Tenn., May 05, 2021 (GLOBE NEWSWIRE) -- Harrow Health, Inc. (NASDAQ: HROW) (“Harrow Health” or the “Company”), an ophthalmic-focused healthcare company, today announced the closing of an additional $5.0 million of 8.625% senior notes due 2026 (the “Additional Notes”), pursuant to the exercise in full of the underwriters’ option in connection with the Company’s previously announced registered public offering of $50 million aggregate principal amount of 8.625% senior notes due 2026 (the “Notes”). On May 3, 2021, the underwriters notified the Company of the exercise of the option to purchase Additional Notes. The Additional Notes have identical terms as the Notes. Total gross proceeds to the Company from the offering, including funds received from the prior closing of the Notes and exercise of this option to purchase Additional Notes, are $55 million before underwriting discounts and commission and expenses. Harrow Health and this issuance of Additional Notes both received a rating of “BB” from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied for and expects the Notes and Additional Notes to begin trading on Nasdaq under the symbol “HROWL” in the near future. The Company expects to use the net proceeds from the sale of the Additional Notes for general corporate purposes, including funding future strategic product acquisitions and related investments, making capital expenditures and funding working capital. B. Riley Securities, National Securities Corporation, Ladenburg Thalmann and William Blair acted as book-running managers for this offering. Aegis Capital Corp., Boenning & Scattergood and Maxim Group LLC acted as co-managers. The Notes were offered under the Company’s shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (“SEC”) on July 13, 2020. The offering of the Notes was made only by means of a prospectus supplement and accompanying base prospectus, each of which was previously filed with the SEC. Copies 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]. This press release shall not constitute an offer to sell or the solicitation of an ...