Company: BOF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021655
Chunk: 86

Company: BranchOut Food Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 86
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arrants, Related Party

On
January 9, 2024 the Company entered into a Subscription Agreement (the “Subscription Agreement”) with Eagle Vision Fund
LP., for the sale of Senior Secured Notes (“Senior Secured Notes”) to Purchasers in the aggregate amount of up to $400,000
and detachable warrants (the “Warrants”) to purchase in the aggregate up to 100,000
shares of the Company’s common stock at an exercise price of $2.00
per share.

On
April 16, 2024, the Company amended the Subscription Agreement (the “First Amendment”) to complete the sale of $225,000
of additional Senior Secured Notes and Warrants to purchase an aggregate of 56,250
shares of the Company’s common stock to Purchasers. On July 30, 2024, the Company repaid an aggregate total of $115,000
of principal to Purchasers in settlement of their Senior Secured Notes.

The
First Amendment incorporates and amends certain provisions of the Subscription Agreement. The First Amendment also (i) increased the
aggregate principal amount of the Senior Secured Notes available to be sold from time to time under the Subscription Agreement from
$400,000
to $2,000,000,
(ii) increased the number of shares of common stock of the Company available to be issued under Warrants sold from time to time
under the Subscription Agreement from 100,000
to 600,000,
(iii) provides for an aggregate one-time payment in the amount of $46,290
to the initial Investors in the Senior Secured Notes and the issuance to them of Warrants to purchase 100,000
shares of common stock, in consideration of their agreement to enter into the First Amendment, and (iv) provided for the payment of
up to $80,000
to Eagle Vision Fund with the proceeds of notes to be issued by the Company at subsequent closings of sales of Senior Secured Notes
and Warrants, in consideration of services rendered and to be rendered by Eagle Vision to holders of the Senior Secured Notes while
such notes are outstanding, including acting as collateral agent and due diligence and collateral monitoring
services.

During
the period of May 14, 2024, through May 22, 2024, the Company completed the sale of an aggregate of $1,050,000
of Senior Secured Notes and Warrants to purchase an aggregate of 262,500