Company: BSFC
Filing Date: 2025-03-05
Form Type: S-1
Source: 0001493152-25-009166
Chunk: 198

Company: Blue Star Foods Corp.
Filing Date: 2025-03-05
Form: S-1
Chunk 198
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 8,701shares of common stock at an exercise price of $ 122.50per share. The warrant provides for cashless exercise and full ratchet anti-dilution provisions. The fair value of the warrants of $ 381,538was recorded as a discount to the 2023 Lind Note and classified as liabilities.

On July 27, 2023, in connection with the issuance of the $ 300,000promissory note to Lind pursuant to the Purchase Agreement Amendment, the Company issued Lind a five-yearwarrant exercisable six months from the date of issuance to purchase 3,505shares of common stock at an exercise price of $ 67.00per share. The warrant provides for cashless exercise and full ratchet anti-dilution provisions. The fair value of the warrants of $ 72,208was recorded as a discount to the 2023 Purchase Agreement Amendment and classified as a liability.

On September 11, 2023, in connection with the underwritten public offering, the Company issued five-yearSeries A-1 warrants to purchase up to 214,823shares of common stock which warrants are exercisable upon stockholder approval at an exercise price of $ 23.28per share. Since the exercise of these warrants is contingent upon stockholder approval, which stockholder approval has not been obtained, such warrants were not considered as outstanding as of September 30, 2024.

On September 11, 2023, in connection with the underwritten public offering, the Company issued eighteen-monthSeries A-2 warrants to purchase up to 214,823shares of common stock which warrants are exercisable upon stockholder approval at an exercise price of $ 23.28per share. Since the exercise of these warrants is contingent upon stockholder approval, which stockholder approval has not been obtained, such warrants were not considered as outstanding as of September 30, 2024.

There was no warrant activity for the nine months ended September 30, 2024.

Note 10. Commitment and Contingencies

Office lease

On January 1, 2022, the Company entered into a verbal month-to-month lease agreement for its executive offices with an unrelated third party and paid $ 52,200on the lease for the nine months ended September 30, 2023. For the nine months ended September 30, 2024, the Company paid $ 52,200under this lease.

Coastal Pride leased approximately 1,100square