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Harrow Health Announces Offering of $17.5 Million of 8.625% Senior Notes Due 2026 and “BB” Rating from Egan-Jones
NASHVILLE, Tenn., June 14, 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., June 14, 2021 (GLOBE NEWSWIRE) -- Harrow Health, Inc. (NASDAQ: HROW) (“Harrow Health” or the “Company”), an ophthalmic-focused healthcare company, today announced that it has commenced an underwritten registered public offering of $17.5 million aggregate principal amount of its 8.625% senior notes due 2026 (the “Notes”), subject to market and certain other conditions. The Notes will be treated as a single series with the Company’s outstanding 8.625% senior notes due 2026 and will trade interchangeably with the existing notes. The Company expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. Harrow Health and this issuance of Notes both received a rating of “BB” from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company expects to use the net proceeds of the offering to redeem all outstanding shares of its Series B Cumulative Preferred Stock, with the remaining net proceeds available for general corporate purposes, including funding future strategic product acquisitions and related investments, making capital expenditures and funding working capital. B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for this offering. The Notes will be 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 these Notes will be made only by means of a prospectus supplement and accompanying base prospectus, which will be 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 offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Harrow HealthHarrow Health, Inc. (NASDAQ: HROW) is an ophthalmic-focused healthcare company. The Company owns and operates ImprimisRx, one of the nation’s leading oph...