Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 631

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1B
Chunk 631
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 purchase 8,701 shares of common stock of the Company commencing six months after issuance and exercisable
for five years at an exercise price of $122.50 per share, for the aggregate funding amount of $1,000,000. The Lind Warrant includes cashless
exercise and full ratchet anti-dilution provisions. In connection with the issuance of the Lind Note and the Lind Warrant, the Company
paid Lind a $50,000 commitment fee. The proceeds from the sale of the Note and Warrant are for general working capital purposes.

On
July 27, 2023, the Company, entered into a First Amendment to the securities purchase agreement (the “Purchase Agreement Amendment”)
with Lind, pursuant to which the Company amended the securities purchase agreement, entered into with Lind as of May 30, 2023 in order
to permit the issuance of further senior convertible promissory notes in the aggregate principal amount of up to $1,800,000 and warrants
in such aggregate amount as the Company and Lind shall mutually agree.

Pursuant
to the Purchase Agreement Amendment, the Company issued to Lind a two-year, interest free convertible promissory note in the principal
amount of $300,000 and a warrant to purchase 3,505 shares of common stock of the Company commencing six months after issuance and exercisable
for five years at an exercise price of $67.00 per share, for the aggregate amount of $250,000. In connection with the issuance of the
note and the warrant, the Company paid a $12,500 commitment fee. The proceeds from the sale of the note and warrant are for general working
capital purposes.

On August 3, 2024 the Company and Lind entered into a waiver and acknowledgement
agreement.

The Company and Lind previously entered into that certain Securities Purchase
Agreement, dated as of May 20, 2023, as amended on July 27, 2023 pursuant to which the Company issued Lind a senior convertible promissory
note in the principal amount of $300,000. Each of the Company and Lind acknowledge that the amounts owing under the convertible promissory
note as of the filing of the Waiver Agreement is equal to $355,500.

During the year ended December 31, 2024, the Company made aggregate principal payments on the Lind Note of $1,500,000
through the issuance of an aggregate of 1,891,622 shares of common