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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