Harrow Health (HROW) to offer $100 million of senior notes due in 2027

December 14, 2022 6:34 AM EST

Harrow Health, Inc. (Nasdaq: HROW) 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.

Harrow 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 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.

B. 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.

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