Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 482

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 482
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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 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 Notes is payable quarterly
in arrears on January 31, April 30, July 31 and October 31 of each year, commencing on July 31, 2021. The 2026 Notes will mature on April
30, 2026. The issuance costs were recorded as a debt discount and are being amortized as interest 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