Company: BOF
Filing Date: 2025-07-29
Form Type: 424B5
Source: 0001641172-25-021357
Chunk: 9

Company: BranchOut Food Inc.
Filing Date: 2025-07-29
Form: 424B5
Chunk 9
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000 after deducting commissions and estimated aggregate offering expenses payable by us, resulting in an assumed net offering price of approximately $2.50 per share, our pro forma net tangible book value as of March 31, 2025, would have been approximately $6.9 million, or $0.63 per share of our common stock. This amount represents an immediate increase in net tangible book value to existing stockholders of $0.23 per share and an immediate dilution in net tangible book value of $1.97 per share to purchasers of our shares of common stock in this offering, as illustrated in the following table:

| Assumed public offering price per share                                            |     |   |      |     | $ | 2.60 |
| Net tangible book value per share as of March 31, 2025                             |     | $ | 0.40 |     |   |      |
| Increase in net tangible book value per share after giving effect to this offering |     | $ | 0.23 |     |   |      |
| Pro forma net tangible book value per share as of March 31, 2025                   |     |   |      |     | $ | 0.63 |
| Dilution in net tangible book value per share to new investors                     |     |   |      |     | $ | 1.97 |

The table above assumes for illustrative purposes that an aggregate of 1,153,846 shares of our common stock are sold during the term of the ATM Agreement at a price of $2.60 per share, the last reported sale price of our common stock on Nasdaq on July 28, 2025, for aggregate gross proceeds of $3,000,000. In fact, the shares subject to the ATM Agreement will be sold, if at all, from time to time at prices that may vary. An increase of $1.00 per share in the price at which the shares are sold from the assumed offering price of $2.60 per share shown in the table above, assuming all of our common stock in the aggregate amount of $3,000,000 during the term of the ATM Agreement with the Sales Agent is sold at that price, would increase our net tangible book value per share after the offering to $0.65 per share and would increase the dilution in net tangible book value per share to new investors in this offering to $2.95 per share, after deducting commissions and estimated aggregate offering expenses payable by