Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 84

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 84
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 fixed rate decline in value. Consequently, if the market interest rates increase,
the market value of the Notes may decline. We cannot predict the future level of market interest rates.

A lack of an active trading market for the
Notes could adversely affect the market price of the Notes or limit a holder’s ability to sell them.

The Notes are listed on Nasdaq
under the symbols “HROWL” and “HROWM”. Although the Notes are listed, we cannot provide any assurances that an
active trading market will be maintained for the Notes or that a holder will be able to sell the Notes. If the Notes are traded, they
may trade at a discount from their initial offering price depending on prevailing interest rates, the market for similar securities,
our credit ratings, general economic conditions, our financial condition, performance and prospects and other factors. The underwriters
of the Notes may make a market in the Notes, but they are not obligated to do so. The underwriters may discontinue any market-making
in the Notes at any time at their sole discretion. Accordingly, we cannot assure a holder that a liquid trading market will develop for
the Notes, that a holder will be able to sell the Notes at a particular time or that the price received will be favorable. To the extent
an active trading market is not maintained, the liquidity and trading price for the Notes may be harmed. Accordingly, a holder may be
required to bear the financial risk of an investment in the Notes for an indefinite period of time.

The rating for the Notes could at any time
be revised downward or withdrawn entirely at the discretion of the issuing rating agency.

We have obtained a rating for
the Notes. Ratings only reflect the views of the issuing rating agency or agencies and such ratings could at any time be revised downward
or withdrawn entirely at the discretion of the issuing rating agency. A rating is not a recommendation to purchase, sell or hold the
Notes. Ratings do not reflect market prices or suitability of a security for a particular investor and the rating of the Notes may not
reflect all risks related to us and our business, or the structure or market value of the Notes. We may elect to issue other securities
for which we may seek to obtain a rating in the future. If we issue other securities with ratings lower than market expectations or that
are subsequently lowered or withdrawn, the market for or the market value of the Notes could be adversely affected.

We could enter into various transactions that
could increase the amount of our outstanding debt or adversely