Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 131

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 131
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 to the Underwriters (the “Public Offering”) of 1,750,000 Shares (the “Shares”)
of common stock at a price to the public of $0.80 per share, less underwriting discounts and commissions. Pursuant to the Underwriting
Agreement, the Representative was granted an option (the “Over-Allotment Option”), for a period of 45 days, to purchase from
the Company up to 262,500 additional shares of common stock, at the same price per share, to cover over-allotments, if any.

Pursuant
to the Underwriting Agreement, the Company agreed to an 8.0% underwriting discount on the gross proceeds received by the Company for
the Shares, in addition to reimbursement of certain expenses, made customary representations, warranties and covenants concerning the
Company, and also agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act. The
Offering closed on June 28, 2024. The Company received net proceeds from the Offering of $1,000,925 after deducting the underwriting
discounts and commissions and offering expenses.

On
July 19, 2024, the Underwriters exercised their Over-Allotment Option to purchase 222,500 shares of common stock at a price of $0.80
per share. The Company received net proceeds $163,760, after deducting $14,240 of underwriting commissions.

Common
Stock Issued for Services for the Year Ended December 31, 2024

On
June 1, 2024, the Company issued 6,383 shares of the Company’s common stock under the 2022 Omnibus Equity Incentive Plan (the “2022
Equity Plan”) to PCG Advisory, Inc. (“PCG”) as payment for services in lieu of cash. The fair value of the shares was
$9,819, based on the closing traded price of the common stock on the date of grant.

On
May 1, 2024, the Company issued 4,766 shares of the Company’s common stock under the 2022 Equity Plan to PCG as payment for services
in lieu of cash. The fair value of the shares was $11,438, based on the closing traded price of
the common stock on the date of grant.

On
April 22, 2024, the Company issued 99,688 shares under the