On August 3, 2020, AeroGrow International, Inc. entered a $7.5 Million Working Capital Term Loan Agreement with The Scotts Miracle-Gro Company. The funding will provide general working capital to support anticipated growth as the Company expands its retail and its direct-to-consumer sales channels. The proceeds will be made available as needed in increments of $500,000 not to exceed $7.5 million with a due date of June 30, 2020. Interest will be charged at the stated rate of 10% and will be paid quarterly in arrears on each of September 30, 2020, December 30, 2020, March 31, 2021 and June 30, 2021.