Harrow, Inc. Closes $125M Senior Notes Offering
Ticker: HROW · Form: 8-K · Filed: Mar 20, 2024 · CIK: 1360214
| Field | Detail |
|---|---|
| Company | Harrow, INC. (HROW) |
| Form Type | 8-K |
| Filed Date | Mar 20, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-offering, financing, notes
Related Tickers: HROW
TL;DR
Harrow just closed a $125M debt offering for 8.625% notes due 2026.
AI Summary
On March 19, 2024, Harrow, Inc. announced the closing of its previously disclosed offering of 8.625% senior notes due 2026. The company successfully raised $125 million in aggregate principal amount from this offering. These notes are guaranteed by certain subsidiaries of Harrow, Inc.
Why It Matters
This financing event provides Harrow, Inc. with capital, potentially for growth initiatives or to manage existing debt, impacting its financial flexibility and future operations.
Risk Assessment
Risk Level: medium — Issuing debt increases financial leverage and interest expense, which can be risky if the company's revenue or profitability declines.
Key Numbers
- $125M — Senior Notes Offering (Amount raised in the offering)
- 8.625% — Senior Notes Interest Rate (Coupon rate on the notes due 2026)
- 2026 — Senior Notes Maturity (Year the notes are due)
Key Players & Entities
- Harrow, Inc. (company) — Registrant
- March 19, 2024 (date) — Date of earliest event reported
- $125 million (dollar_amount) — Aggregate principal amount of senior notes offered
- 8.625% senior notes due 2026 (financial_instrument) — Notes offered
FAQ
What was the aggregate principal amount of the senior notes offered by Harrow, Inc.?
Harrow, Inc. raised $125 million in aggregate principal amount of 8.625% senior notes due 2026.
When did Harrow, Inc. announce the closing of this offering?
The earliest event reported in the filing is March 19, 2024, indicating the closing occurred on or before this date.
What is the interest rate on the senior notes?
The senior notes carry an interest rate of 8.625%.
When are the senior notes due?
The senior notes are due in 2026.
Are the senior notes guaranteed by any subsidiaries?
Yes, the filing states that the notes are guaranteed by certain subsidiaries of Harrow, Inc.
Filing Stats: 429 words · 2 min read · ~1 pages · Grade level 12 · Accepted 2024-03-20 07:04:24
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share HROW The Nasdaq
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-24-010600.txt ( ) — 255KB
- hrow-20240319.xsd (EX-101.SCH) — 4KB
- hrow-20240319_def.xml (EX-101.DEF) — 26KB
- hrow-20240319_lab.xml (EX-101.LAB) — 36KB
- hrow-20240319_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. On the afternoon of March 19, 2024, Harrow, Inc. (the "Company") received communication from a representative at the Centers for Medicare & Medicaid Services ("CMS") that the inclusion of J-Code 2403 (IHEEZO's J-Code) in CMS's April 2024 quarterly drug pricing file of the average sales prices (ASP) of some Medicare Part B-covered drugs and biologicals confirms that IHEEZO is separately payable in the physician office setting.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HARROW, INC. Dated: March 20, 2024 By: /s/ Andrew R. Boll Andrew R. Boll Chief Financial Officer