Harrow (Nasdaq: HROW), a leading U.S. eyecare pharmaceutical company, today announced that it has entered into a $100 million secured credit financing agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”). The interest-only secured credit facility carries an interest rate equal to the three-month secured overnight financing rate (SOFR) plus 6.50%, includes flexible terms and covenants, and is expected to mature in approximately three years. A portion of the proceeds from the new facility was used to pay off indebtedness under Harrow’s existing secured loan with an affiliate of B. Riley Financial, Inc., with the remainder to be used for future milestone payments related to a recently announced acquisition and for general corporate purposes.
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