Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 24

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 24
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Each
Warrant is exercisable for a 10ten-year period at an exercise price of $1.00 per share.

Unit
Offering Sale of Common Stock and Warrants

On
July 15, 2024, the Company entered into Subscription Agreements (the “Subscription Agreements”) with three related parties,
consisting of Eric Healy, the Company’s Chief Executive Officer; Eagle Vision, an affiliate of John Dalfonsi, the Company’s
Chief Financial Officer; 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.

Common
Stock Options Issued for Services

On
February 22, 2024, the Company granted options to purchase 140,000 shares of the Company’s common stock under its 2022 Equity Incentive
Plan (the “2022 Plan”), having an exercise price of $1.92 per share, exercisable over a 10-year term, to the Company’s
CEO. The options vested immediately.

On
February 22, 2024, the Company granted options to purchase 75,000 shares of the Company’s common stock, having an exercise price
of $1.92 per share, exercisable over a 10-year term, to the Company’s CFO. The options vested immediately.

On
February 22, 2024, the Company also granted options to purchase an aggregate 79,166 shares of the Company’s common stock, having
an exercise price of $1.92 per share, exercisable over a 10-year term, to a total of three of the Company’s directors. The options
vested immediately.

On
August 8, 2023, the Company granted options to purchase 30,000 shares of the Company’s common stock under the 202