Company: HROW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021562
Chunk: 30

Company: HARROW, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 30
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.625% per annum. Interest
on the 2030 Notes is payable semi-annually in arrears on March 15 and September 15 of each year, commencing March 15, 2026. The issuance
costs were recorded as a debt discount and are being amortized as interest expense over the term of the 2030 Notes using the effective
interest rate method.

The
Company may redeem all or part of the 2030 Notes prior to September 15, 2027, at a price equal to 100% of the principal amount of the
2030 Notes redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, plus a “make-whole”
premium, as described in the indenture. The Company may redeem all or part of the 2030 Notes on or after September 15, 2027 at the applicable
redemption prices described in the indenture. The Company may also redeem up to 40% of the aggregate principal amount of the 2030 Notes
at any time prior to September 15, 2027, at a redemption price equal to 108.625% of the principal amount of the 2030 Notes redeemed,
plus accrued and unpaid interest, if any, to, but excluding, the redemption date, with the net cash proceeds from certain equity offerings.
If a change in control triggering event occurs, unless the Company has previously exercised or substantially concurrently exercise its
optional redemption right, the Company will be required to offer to repurchase the 2030 Notes from holders at 101% of the principal amount
thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

Interest
expense related to the 2030 Notes totaled $1,063,000 for the three and nine months ended September 30, 2025, and included the amortization
of debt issuance costs and discount of $80,000

Oaktree
Loan Due 2026 – Paid in Full

In
March 2023, the Company entered into a Credit Agreement and Guaranty (the “Oaktree Loan”) with Oaktree Fund Administration,
LLC, as administrative agent for the lenders (together, “Oaktree”). Including through subsequent amendments to the Oaktree
Loan, the Company had drawn down a total principal loan amount of $107,500,000. The Oaktree Loan carried an interest rate equal to SOFR
plus 6.