8-K
filed December 20, 2022, 6:59 PM ET
ticker HROW
CIK 0001360214
debt
confidence high
sentiment neutral
materiality 0.70
HARROW, INC. (HROW): debt financing — Harrow Health issues $35M 11.875% notes and $100M loan facility for acquisition
HARROW, INC.
- Issued $35M in 11.875% senior notes due 2027 (plus up to $5.25M overallotment); closed Dec 20, 2022.
- Entered $100M loan facility at 10.875% through B. Riley Commercial Capital; matures Dec 14, 2025.
- Loan proceeds earmarked for acquisition of certain assets from Novartis Technology and Novartis Innovative Therapies.
- Loan secured by IP and all assets of Harrow and its material subsidiaries; includes prepayment penalties.
- Notes callable at Company's option starting Dec 31, 2024 at specified prices plus accrued interest.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
HARROW, INC. incurred senior notes of $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027 with B. Riley Securities, Inc. at 11.875% per annum maturing December 31, 2027.
- Instrument
- senior notes
- Principal
- $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027
- Counterparty
- B. Riley Securities, Inc.
- Rate
- 11.875% per annum
- Maturity
- December 31, 2027
- Event
- incurrence
Exact text from the filing
the Company agreed to sell to the Underwriters $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027 (the “ Firm Notes ”) plus up to an additional $5,250,000 aggregate principal amount of 11.875% Senior Notes due 2027
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
HARROW, INC. incurred credit facility of up to $100,000,000 with B. Riley Commercial Capital, LLC at 10.875% per annum maturing December 14, 2025.
- Instrument
- credit facility
- Principal
- up to $100,000,000
- Counterparty
- B. Riley Commercial Capital, LLC
- Rate
- 10.875% per annum
- Maturity
- December 14, 2025
- Event
- incurrence
Exact text from the filing
The Loan Agreement provides for a loan facility of up to $100,000,000 to the Company (the “ Loan ”) with a maturity date of December 14, 2025 (the “ Maturity Date ”), at an interest rate of 10.875% per annum.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
HARROW, INC. entered into Second Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027 (effective 2022-12-20).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- U.S. Bank Trust Company, National Association
- Value
- $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027
- Effective
- 2022-12-20
Exact text from the filing
On December 20, 2022, the Company entered into a Second Supplemental Indenture (the “ Second Supplemental Indenture ”) to the indenture dated as of April 20, 2021 (the “ Base Indenture ” and, together with the Second Supplemental Indenture, the “ Indenture ”) with U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee (the “ Trustee ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
HARROW, INC. entered into Underwriting Agreement with B. Riley Securities, Inc. valued at $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027 plus up to an additional $5, (effective 2022-12-15).
- Action
- entry
- Agreement
- underwriting
- Counterparty
- B. Riley Securities, Inc.
- Value
- $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027 plus up to an additional $5,
- Effective
- 2022-12-15
Exact text from the filing
on December 15, 2022, Harrow Health, Inc. (the “ Company ”) entered into an underwriting agreement with B. Riley Securities, Inc., as representative of the several underwriters named therein (collectively the “ Underwriters ”), pursuant to which the Company agreed to sell to the Underwriters $35,000,000 aggregate principal amount of 11.875% Senior Notes due 2027 (the “ Firm Notes ”) plus up to an additional $5,250,000 aggregate principal amount of 11.875% Senior Notes due 2027 pursuant to the option to purchase additional Notes
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
HARROW, INC. entered into Loan and Security Agreement with B. Riley Commercial Capital, LLC valued at a loan facility of up to $100,000,000 to the Company with a maturity date of December 14, 2025, at a (effective 2022-12-14).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- B. Riley Commercial Capital, LLC
- Value
- a loan facility of up to $100,000,000 to the Company with a maturity date of December 14, 2025, at a
- Effective
- 2022-12-14
Exact text from the filing
On December 14, 2022 (the “ Effective Date ”), the Company and its material subsidiaries entered into a Loan and Security Agreement (the “ Loan Agreement ”) with B. Riley Commercial Capital, LLC, as Administrative Agent for the Lenders from time to time party thereto. The proceeds of the Loan Agreement are expected to be used to finance the Acquisition (as defined below). The Loan Agreement provides for a loan facility of up to $100,000,000 to the Company (the “ Loan ”) with a maturity date of December 14, 2025 (the “ Maturity Date ”), at an interest rate of 10.875% per annum.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.