Company: HROW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001641172-25-022980
Chunk: 30

Company: HARROW, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 30
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 six months ended June 30, 2024, respectively, and included the
amortization of debt issuance costs and discount of $602,000 and $1,205,000, respectively.

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 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 and other offering expenses of $1,158,000 and a premium on note issuance of $322,000.
The September Notes are treated as a single series with the April Notes under the indenture governing the April Notes, dated as of April
20, 2021, and have the same terms as the April Notes (other than the initial offering price and issue date). The 2026 Notes are senior
unsecured obligations of the Company and rank equally in right of payment with all of the Company’s other existing and future senior
unsecured and unsubordinated indebtedness. The 2026 Notes are effectively subordinated in right of payment to all of the Company’s
existing and future secured indebtedness and structurally subordinated to all existing and future indebtedness of the Company’s
subsidiaries, including trade payables. The 2026 Notes bear interest at a rate of 8.625% per annum. Interest on the 2026