Harrow Announces Offering of $250.0 Million Senior Unsecured Notes Due 2030

Core Viewpoint - Harrow has announced a private offering of $250 million in senior unsecured notes due 2030, alongside a new $40 million revolving credit facility, aimed at refinancing existing debt and supporting corporate purposes [1][2][3]. Group 1: Offering Details - The company is offering $250 million in senior unsecured notes due 2030, which will be guaranteed by its existing and future wholly-owned domestic restricted subsidiaries [1]. - The net proceeds from the offering will be used to repay a $107.5 million facility with Oaktree Fund Administration, redeem $75 million of 8.625% Senior Notes due 2026, and redeem $40.25 million of 11.875% Senior Notes due 2027 [3]. - The company has delivered a conditional notice to redeem all outstanding 2027 Notes on October 9, 2025, at a price of 102% of the principal amount plus accrued interest [4]. Group 2: Credit Facility - The company has entered into a commitment letter for a new revolving credit facility of up to $40 million, expected to close shortly after the issuance of the 2030 Notes [2]. - The new revolving credit facility is set to mature either 91 days prior to the earliest maturity date of the 2030 Notes or on the fifth anniversary of its closing [2]. Group 3: Redemption of Existing Notes - The company plans to redeem all outstanding 2026 Notes on a date between 30 to 60 days after delivering the redemption notice, at 100% of the principal amount plus a make-whole amount and accrued interest [5]. - Following the redemption, both the 2026 and 2027 Notes will be delisted from Nasdaq [4][5]. Group 4: Company Overview - Harrow is a leading provider of ophthalmic disease management solutions in North America, focusing on a comprehensive portfolio of products for various eye conditions [10].