Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 53

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 53
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On
July 15, 2024, the Company entered into Subscription Agreements with three related parties, consisting of Eric Healy, the Company’s
Chief Executive Officer; Eagle Vision; and the Company’s President, pursuant to which such investors agreed to purchase $525,000
of “Units” from the Company, each Unit consisting of (i) 100 shares of common stock, and (ii) a warrant to purchase 125 shares
of common stock over the following ten years at an exercise price of $1.00 per share, at a purchase price per Unit equal to $75.82. The
Company completed the sale of the Units to Eric Healy and the Company’s President on July 23, 2024, and the sale of the Units to
Eagle Vision on August 30, 2024, resulting in the issuance of an aggregate of 692,429 shares of common stock and warrants to purchase
865,536 shares of common stock.

Warrants
Issued Pursuant to Underwriting Agreement

On
June 28, 2024, pursuant to the Underwriting Agreement, the Company executed and delivered to the Representative a common stock Purchase
Warrant (the “Representative’s Warrant”) to purchase up to 100,625 shares of Common Stock, which may be exercised beginning
on December 23, 2024 (the date that is 180 days following the commencement of sales of common stock in connection with the Offering (the
“Commencement Date”)) until June 26, 2029. The initial exercise price of the Representative’s Warrant is $0.96 per
share, which is equal to 120% of the public offering price for the Shares.

Warrants
Issued Pursuant to Debt Offering

On
various dates from January 9, 2024 through May 22, 2024, the Company issued Warrants to
purchase an aggregate total of 518,750 shares of common stock at an exercise price of $2.00 per share in connection with the sale of
Senior Notes to a group of Investors led by Eagle Vision, in the aggregate principal amount of $1,675,000. The proceeds received were
allocated between the debt and warrants on a relative fair value basis. The relative aggregate estimated value of the warrants using
the Black-Scholes Pricing Model, based on a weighted average volatility rate of 40% and a weighted average call option value of $0.1560