Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 191

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 191
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 The aggregate weighted average discount rate was 3.3% as of December 31, 2023.

| O. | STOCKHOLDERS’ EQUITY: |

Common Stock

In accordance with the Company’s Articles of Incorporation dated May 24, 2021, the Company is authorized to issue 300,000,000shares of $ 0.0001par value common stock, of which 18,539,000and 18,475,336shares were issued and outstanding at December 31, 2023 and 2022, respectively. Common stockholders are entitled to one vote per share and are entitled to receive dividends when, as and if declared by the Board of Directors.

Warrants

The Company has outstanding publicly-traded warrants which entitle the holders to purchase oneshare of common stock at an exercise price of $ 4.81375per share as of December 31, 2023, which expire fiveyears from issuance (“IPO Warrants”). As of December 31, 2023 and 2022, IPO Warrant holders exercised an aggregate 659,456IPO Warrants and there were 4,478,134IPO Warrants outstanding.

The Company has 149,639outstanding warrants issued to the underwriters of the Company’s IPO that were exercisable beginning six months after the date of the IPO at an exercise price of $ 5.19with a five-year expiration term.

The Company has outstanding private placement warrants which entitle the holders to purchase up to 5,464,903 shares of common stock at an exercise price of $ 4.97per share, which will expire five yearsfrom issuance (“PIPE Warrants”). The PIPE Warrants have certain downward pricing adjustment mechanisms, including with respect to any subsequent equity sale that is deemed a dilutive issuance, in which case the PIPE Warrants will be subject to a floor price of $ 1.00per share, as set forth in the PIPE Warrants.

The Company has outstanding 131,158warrants issued to the placement agent for the PIPE that were exercisable beginning six months from the date of the PIPE at an exercise price of $ 4.97with a five-year expiration term.

As of December 31, 2023 and 2022 PIPE Warrant holders have exercised zeroPIPE Warrants and there were 5,596,061PIPE Warrants outstanding.

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