Harrow Health Announces Pricing of $17.5 Million Aggregate Principal Amount Offering of 8.625% Senior Notes Due 2026

NASHVILLE, Tenn., June 14, 2021 (GLOBE NEWSWIRE) -- Harrow Health, Inc. (NASDAQ: HROW) (“Harrow Health” or the “Company”), an ophthalmic-focused healthcare company, today announced the pricing of its underwritten registered public offering of $17.5 million aggregate principal amount of 8.625% senior notes due 2026 (the “Notes”). The Company has granted the underwriters a 30-day option to purchase an additional $2.5 million aggregate principal amount of Notes in connection with the offering. 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 Notes will be sold to investors at a price of $25.75 per Note, for aggregate gross proceeds of $18,025,000. The offering is expected to close on June 17, 2021, subject to customary closing conditions.

Harrow Health and this issuance of Notes both received a rating of “BB” from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The outstanding Notes are listed, and the new Notes to be issued are expected to be listed, on the Nasdaq Global Market under the symbol “HROWL”.

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 [phone], or by emailing [e-mail].

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.