Harrow Health Inc. (HROW) is offering a new issue of baby bonds (senior notes).
The notes will have a maturity in April 2026 and an early redemption period starting in February, 2026 (yes just a few months apart).
The company can redeem the bonds at anytime prior to 2/2026 for $25 plus a ‘make whole’ premium. The premium is the present value of the remaining interest payments to maturity.
The ticker on the issue will be HROWL when it becomes listed on NASDAQ.
The is going to be a smallish issue of around 1 million bonds and investors need to do some deep due diligence on this one.
HROW is a small ophthalmic related healthcare company holding equity positions in other companies and additionally a royalty company, investing in and collecting royalties on ophthalmic related drugs.
The preliminary prospectus is here.
EarlyBird was on this one.
I’ll pass on this one! We’ll let Cathie Wood buy it – negative earnings as far as the eye can see – surely it must have some disruptive opthamological technologies!