United States securities and exchange commission logo
November 27, 2020
William Toler
Chief Executive Officer
Hydrofarm Holdings Group, Inc.
2249 South McDowell Boulevard
Petaluma, CA 94954
Re: Hydrofarm Holdings
Group, Inc.
Registration
Statement on Form S-1
Filed November 12,
2020
File No. 333-250037
Dear Mr. Toler:
We have reviewed your registration statement and have the
following comments. In
some of our comments, we may ask you to provide us with information so
we may better
understand your disclosure.
Please respond to this letter by amending your registration
statement and providing the
requested information. If you do not believe our comments apply to your
facts and
circumstances or do not believe an amendment is appropriate, please tell
us why in your
response.
After reviewing any amendment to your registration statement and
the information you
provide in response to these comments, we may have additional comments.
Registration Statement on Form S-1 filed November 12, 2020
Interim Financial Statements
Note 9. Stock Based Compensation, page F-68
1. We note your grant date
fair value of your stock options increased from $.21 to $1.28.
Please tell us your
consideration of disclosing the change in your significant assumptions
used to value your
stock options for the period ended September 30, 2020. Refer to ASC
718-10-55-21.
Note 11. Subsequent Events, page F-70
2. We note your disclosure
that vesting of the 1,000,000 restricted stock unit award was
modified. Please tell
us your consideration of disclosing the potential impact of the
modified vesting terms
on your financial statements.
William Toler
Hydrofarm Holdings Group, Inc.
November 27, 2020
Page 2
Exhibits
3. We note that you have filed your Amended and Restated Certificate of
Incorporation as
Exhibit 3.1. Please ensure it clearly states, as you do on pages 52 and
132 of your
registration statement, that the exclusive forum provision does not apply
to any actions
arising under the Securities Act or Exchange Act, or tell us how you will
inform investors
in future filings.
We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.
Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.
You may contact Tony Watson at (202) 551-3318 or Jim Allegretto at (202)
551-3849 if
you have questions regarding comments on the financial statements and related
matters. Please
contact Nicholas Lamparski at (202) 551-4695 or Mara Ransom at (202) 551-3264
with any
other questions.
Sincerely,
FirstName LastNameWilliam Toler
Division of
Corporation Finance
Comapany NameHydrofarm Holdings Group, Inc.
Office of Trade &
Services
November 27, 2020 Page 2
cc: Kenneth R. Koch, Esq.
FirstName LastName