Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 1068

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 1068
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, the date of redemption. In addition, the Company is required to redeem the 2027 Notes,
for cash, in whole but not in part, at the price of $25.50 per note, plus accrued and unpaid interest to, but excluding, the date of
redemption, upon occurrence of certain events including the occurrence of a Material Change, as defined in the Second Supplemental Indenture.
The 2027 Notes trade on the Nasdaq Stock Market LLC under the symbol “HROWM.”

Interest expense related
to the 2027 Notes totaled $5,496,000 and $5,516,000 for the years ended December 31, 2024 and 2023, respectively, and included the amortization
of debt issuance costs and discount of $716,000 and $736,000, respectively.

The Company’s Chief
Executive Officer, Mark L. Baum, Chief Financial Officer, Andrew R. Boll, and former directors R. Lawrence Van Horn and Dr. Richard Lindstrom,
in the aggregate, purchased $950,000 in principal amount of the 2027 Notes at the time of their offering.

HROWL – 8.625% Senior Notes Due 2026

In April 2021, the Company
closed an offering of $50,000,000 aggregate principal amount of 8.625% senior notes due April 2026, and in May 2021 issued an additional
$5,000,000 of such notes pursuant to the full exercise of the underwriters’ option to purchase additional notes (collectively,
the “April Notes”). The April Notes were sold to investors at a par value of $25.00 per April Note and the offering resulted
in net proceeds to the Company of approximately $51,909,000 after deducting underwriting discounts and commissions and other offering
expenses of $3,091,000. In September 2021, in a further issuance of the April Notes, the Company sold an additional $20,000,000 aggregate
principal amount of such notes (the “September Notes,” and together with the April Notes, the “2026 Notes”),
at a price of $25.75 per September Note, with interest of $278,000 on the September Notes being accrued from April 20, 2021, the date
of issuance of the April Notes. The September offering resulted in net proceeds to the Company of approximately $19,164,000 after deducting
underwriting discounts and commissions