Company: BOF
Filing Date: 2025-02-18
Form Type: 424B5
Source: 0001493152-25-007101
Chunk: 2

Company: BranchOut Food Inc.
Filing Date: 2025-02-18
Form: 424B5
Chunk 2
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554,769 shares of our common stock outstanding as of February 17, 2025     
 and the sale of 826,448 shares of our common stock following the date of this Amendment at an assumed offering price of $2.42 per    
 share, the last reported sale price of our common stock on Nasdaq on February 14, 2025, and does not include:                        |

| ● | 603,470                                                                                                                               
 shares of our common issuable upon exercise of outstanding stock options having a weighted average exercise price of $2.39 per share; |
| ● | 108,799                                                                                                                               
 shares of our common stock reserved for future issuance under our 2022 Equity Incentive Plan; and                                     |
| ● | 3,422,415                                                                                                                             
 shares of our common issuable upon exercise of outstanding warrants having a weighted average exercise price of $1.89 per share.      |

| S-1 |

<div align='center'>DILUTION</div>

If you purchase shares of our common stock in this offering, your interest will be diluted to the extent of the difference between the public offering price per share and the pro forma as adjusted net tangible book value per share of our common stock immediately after this offering. We calculate pro forma net tangible book value per share by dividing our pro forma net tangible book value, which is total tangible assets less our total liabilities, by the number of our outstanding shares of common stock.

Our net tangible book value as of September 30, 2024, was approximately $1.525 million, or $0.22 per share. After giving effect to the issuance of 1,590,422 shares of common stock issued in the offering under the ATM Agreement, and the exercise of warrants to purchase 39,747 shares of common stock following September 30, 2024 and prior to the date of this Amendment, our pro forma net tangible book value as of September 30, 2024, was $0.51 per share.

After giving further effect to the sale of our common stock during the term of the ATM Agreement following the date of this Amendment in the aggregate amount of $2,000,004 at an assumed offering price of $2.42 per share, the last reported sale price of our common stock on Nasdaq on February 14, 2025, or $1,920,004 after deducting commissions and estimated aggregate offering expenses payable by us, resulting in an assumed net offering price of approximately $2.