Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 261

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 261
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 clinical development program. Additionally, qualification for
any expedited review procedure does not ensure that we will ultimately obtain regulatory approval for such drug candidate.

Risks Related to Our
Indebtedness

We have incurred significant
indebtedness, which will require substantial cash to service and which subjects us to certain financial requirements and business restrictions.

Since
2021, we issued $115,250,000 aggregate principal amount of senior notes due in part in 2026 and in 2027 (the “Notes”)
and in January 2026, debt in the amount of $107,500,000 principal amount under the Oaktree Loan becomes due. While the Company is
currently in discussions with its current senior secured lender and other potential lenders about refinancing the Oaktree Loan and
management believes it is probable that the Company will be able to refinance the Oaktree Loan based on the Company’s collateral strength and expected cash flows
from operations, there can be no assurance that the
Company will complete a refinancing on terms acceptable to it, or at all. We may incur additional indebtedness in the
future. Our ability to make scheduled payments on our indebtedness depends on our future performance and ability to raise additional
capital, which is subject to economic, financial, competitive and other factors, some of which are beyond our control. If we are
unable to generate sufficient cash to service our debt, we may be required to adopt one or more alternatives, such as selling
assets, restructuring our debt or obtaining additional capital through equity sales or incurrence of additional debt on terms that
may be onerous or highly dilutive to our stockholders. Our ability to engage in any of these activities would depend on the capital
markets and our financial condition at such time, and we may not be able to do so when needed, on desirable terms or at all, which
could result in a default on our debt obligations. Additionally, our debt instruments contain, or from time to time may contain,
various restrictive covenants, including, among others, our obligation to deliver certain financial and other information, our
obligation to comply with certain notice and insurance requirements, and our inability, without prior consent, to dispose of certain
of our assets, incur certain additional indebtedness, enter into certain merger, acquisition or change of control transactions, pay
certain dividends or distributions on or repurchase any of our capital stock or incur any lien or other encumbrance on our assets,
subject to certain