2023-03-28 10:30:18 ET
- Harrow Health ( NASDAQ: HROW ) has agreed on $100M secured credit financing with funds managed by the investment manager Oaktree Capital Management.
- The interest-only credit facility carries an interest rate equal to the 3-month secured overnight financing rate plus 6.50%, the eyecare pharmaceutical company said on Tuesday.
- The facility is expected to mature in about 3 years.
- The proceeds are expected to be used to make payments in connection with an existing secured loan from an affiliate of B. Riley Financial and future payments related to a recently announced acquisition.
- The proceeds may also be used for general corporate purposes.
- HROW shares were trading +0.51% on Tuesday morning after market open.
- Source: Press Release
For further details see:
Harrow agrees on $100M secured credit financing with Oaktree Capital