Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1068

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1068
---
 of the following entities, all of which were under common control
and ownership at December 31, 2024:

    Name
    of Entity
     
    Jurisdiction
     
    Relationship
  
    BranchOut
    Food Inc.(1)
     
    Nevada,
    U.S.
     
    Parent
  
    BranchOut
    Food Sucursal Peru(2)
     
    Pisco,
    Peru
     
    Subsidiary

    (1)
    Holding
    company in the form of a corporation.
  
    (2)
    Peruvian
    wholly-owned subsidiary of BranchOut Food Inc. in the form of a branch.

The
consolidated financial statements herein contain the operations of the wholly-owned subsidiary listed above. The Company’s headquarters
are located in Bend, Oregon.

Initial
Public Offering

In
June 2023, the Company completed its initial public offering (“IPO”) in which it issued and sold 1,190,000 shares of its
common stock at a price of $6.00 per share pursuant to an Underwriting Agreement between the Company and Alexander
Capital, L.P. (the “Underwriter”). The Company received net proceeds of $6,226,000, after deducting underwriters’
discounts and commissions and before consideration of other issuance costs. In connection with the IPO, a total of $6,029,204 of convertible
debt, consisting of $5,526,691 of principal and $502,513 of interest, was converted into 1,572,171 shares of common stock, inclusive
of $179,687, consisting of $165,000 of principal and $14,687 of interest, that converted into 43,562 shares of common stock issued upon
the conversion of debts held by related parties.

Pursuant
to the Underwriting Agreement, the Company also issued to the Underwriter a Common Stock Purchase Warrant to purchase up to 82,110 shares
of Common Stock at an exercise price of $7.20, which may be exercised for a five-year period beginning December 18, 2023.

    F-6

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

Prior
to the IPO, all deferred offering costs were capitalized in other noncurrent assets on the balance sheets. Deferred offering costs of
$1,283,954, primarily consisting of accounting, legal, and other fees related to the