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Published on 4/20/2021 in the Prospect News High Yield Daily and Prospect News Preferred Stock Daily.

Harrow Health issues $5 million more $25-par notes via greenshoe

Chicago, April 20 – Harrow Health, Inc.’s underwriters exercised their option to purchase an additional $5 million of notes due April 30, 2026 (Egan-Jones: BB), according to an 8-K filing with the Securities and Exchange Commission.

The over-allotment option has been exercised in full, lifting the total issue size to $55 million.

The issue size was initially expected to be $50 million with a $3.75 million greenshoe.

B. Riley Securities, Inc., Ladenburg Thalmann Co., Inc., National Securities Corp. and William Blair & Co., LLC are the bookrunners.

The notes will be redeemable at par starting Feb. 1, 2026.

Harrow Health plans to use proceeds to repay outstanding borrowings of $15.5 million under its term loan and security agreement with SWK Funding LLC. Any remaining proceeds would be used for general corporate purposes.

Harrow Health is an ophthalmic-focused health care company based in Nashville.


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