QUANTUMONLINE.COM SECURITY DESCRIPTION: Harrow Health, Inc. 11.875% Senior Notes due 2027, issued in $25 denominations, redeemable at the issuer's option, after 12/31/2024 but prior to 12/31/2025 at $25.50 (102%) plus accrued and unpaid interest, after 12/31/2025 but prior to 12/31/2026 at $25.25 (101%) plus accrued and unpaid interest, after 12/31/2026 at $25.00 (100%) plus accrued and unpaid interest and maturing 12/31/2027.
DInterest distributions of 11.875% per annum ($2.96875 per annum or $0.7421875 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date that will be 1/15, 4/15, 7/15 & 10/15 (NOTE: the ex-dividend date is one business day prior to the record date).
Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders.
In the event of a failure by the Company to consummate the acquisition (excluding the milestone payment related to the commercial availability of Triesence) within 180 days after the original issue date of the Notes, or, in certain circumstances there is a Material Change, the Company shall redeem the Notes for cash, in whole but not in part, at the redemption price equal to $25.50 per Note, plus accrued and unpaid interest to, but excluding, the date of redemption (see prospectus for more details).
This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as BB by Egan-Jones Ratings Co. at the date of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
