Harrow prices $60M offering one day after acquiring US, Canadian rights to new dry eye treatment
Eye biotech Harrow Health is looking to raise $60 million after buying the rights to an eye product newly approved by the FDA.
The company said Wednesday that it would offer roughly 3.38 million shares of its stock at $17.75 each, giving underwriters an option to buy an additional 15%, or around 507,000 shares at that price. The offering is scheduled to close Friday.
Harrow said it plans to use the money to fund “the initial amount payable for an acquisition.” Whatever is left over will likely be used to fund future acquisitions or for working capital.
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