Harrow announces offering of $250M senior unsecured notes

Harrow (HROW) commenced a private offering of $250.0 million aggregate principal amount of senior unsecured notes due 2030, subject to market and certain other conditions. The 2030 Notes will be guaranteed on a senior unsecured basis by the Company’s existing and future wholly-owned domestic restricted subsidiaries and any of its other restricted subsidiaries that guarantees or co-issues any of its indebtedness or any indebtedness of any of its subsidiaries that guarantees the 2030 Notes, subject to certain exceptions. The Company also announced that on September 5, 2025, the Company entered into a commitment letter with Fifth Third Bank, National Association in respect of a new revolving credit facility. Under the terms of the commitment letter, shortly after the issuance of the 2030 Notes, the Company and the same subsidiaries that are expected to guarantee the 2030 Notes, as guarantors, expect to enter into and close on a new senior secured credit agreement, which is expected to provide for up to a $40.0 million revolving credit facility, and is expected to mature on the earlier to occur of the date that is 91 days prior to the earliest maturity date of the 2030 Notes and the fifth anniversary of the closing of the New Revolving Credit Facility. The Company expects to use the net proceeds from the Offering to repay in full its $107.5 million facility with Oaktree Fund Administration as administrative agent to the lenders thereunder, to redeem in full the $75.0 million aggregate principal amount of its outstanding 8.625% Senior Notes, and the $40.25 million aggregate principal amount of its outstanding 11.875% Senior Notes, and to pay certain exit costs related thereto. Any remaining proceeds are expected to be used for general corporate purposes, which may include funding future strategic business development opportunities and related investments.