Harrow Health falls on discounted public offering

Harrow

19/07/2023 13:44

** Shares of eye-drug maker Harrow Health Inc  HROW.O  down
1% at $18.1 before the bell 
    ** Co announces pricing of its underwritten registered
public offering of 3.4 mln shares of common stock at $17.75 per
share 
    ** Total gross proceeds $60 mln
    ** Offering is at 2.8% discount over co's last close
    ** HROW also announced that it had granted underwriters
30-day option to purchase additional 507,042 shares of its
common stock in connection with the offering
    ** Co expects to use net proceeds to fund initial amount
payable for an acquisition, with remaining net proceeds
available for general corporate purposes
    ** Co has 30.12 mln shares outstanding for $550.33 mln
market cap, as per Refinitiv data
    ** HROW share up 23.78% YTD