Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 1477

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 1477
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 expense, net of the amortization of
the premium on note issuance, over the term of the 2026 Notes using the effective interest rate method.

Prior to February 1, 2026,
the Company may, at its option, redeem the 2026 Notes, in whole at any time or in part from time to time, at a redemption price equal
to 100% of the principal amount of the 2026 Notes to be redeemed, plus a make-whole amount, if any, plus accrued and unpaid interest
to, but excluding, the date of redemption. The Company may redeem the 2026 Notes for cash in whole or in part at any time at its option
on or after February 1, 2026 and prior to maturity, at a price equal to 100% of their principal amount, plus accrued and unpaid interest
to, but excluding, the date of redemption. On and after any redemption date, interest will cease to accrue on the redeemed Notes. The
2026 Notes trade on the Nasdaq Stock Market LLC under the symbol “HROWL”.

    F-31

Interest expense related to the 2026 Notes totaled
$7,253,000 and $7,251,000 for the years ended December 31, 2024 and 2023, respectively, and included amortization of debt issuance
costs and discount of $784,000, and $782,000 for the years ended December 31, 2024 and 2023, respectively.

B. Riley Loan and Security
Agreement – Paid in Full

On December 14, 2022 (the
“Effective Date”), the Company entered into a Loan and Security Agreement (the “BR Loan”) with B. Riley Commercial
Capital, LLC, as administrative agent for the lenders. The BR Loan provided for a loan facility of up to $100,000,000 to the Company
with a maturity date of December 14, 2025 (the “Maturity Date”), at an interest rate of 10.875% per annum.

In January 2023, $59,750,000
of principal amount was funded pursuant to the BR Loan simultaneously with the consummation of the NVS 5 Acquisition (see Note 4). In
March 2023, the Company repaid all amounts owed under the BR Loan, in connection with the Oaktree Loan, and no exit or prepayment fees
were paid as a result of