Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 341

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 341
---
 by the Company of $5,000,000
of equity or debt securities in a single transaction or series of related transactions (excluding certain specified transactions), or
(iii) the closing of a change of control transaction as provided in the Convertible Note. Loans outstanding under the Convertible Note
bear interest at an initial rate of 12% per annum, and together with accrued principal are convertible into common stock. The Company’s
obligations under the Convertible Note are secured by a lien granted to Kaufman Kapital on substantially all of the Company’s assets
pursuant to a Security Agreement entered between the Company and Kaufman Kapital (the “Security Agreement”).

Kaufman
Promissory Note

On
August 30, 2024, the Company borrowed $1,200,000 from Kaufman Kapital pursuant to a Senior Secured Promissory Note in the principal amount
of $1,200,000 (the “Note”) issued by the Company to Kaufman Kapital. The Note matures on June 30, 2025. The loan under
the Note bears interest at a rate of 15% per annum. The Company’s obligations under the Note are secured by a lien on substantially
all of the Company’s assets pursuant to the Security Agreement.

Eagle
Vision Promissory Notes

On
various dates from January 9, 2024 through May 22, 2024, the Company completed the sale of an aggregate $1,675,000 of Senior Secured
Promissory Notes (“Senior Notes”) and warrants to purchase an aggregate of 518,750 shares of the Company’s common stock,
to a group of Investors (“Investors”) led by Eagle Vision Fund LP (“Eagle Vision”), an affiliate of John Dalfonsi,
CFO of the Company, pursuant to a subscription agreement between the Company and the Investors. The Notes mature on the earlier of December
31, 2025, or the occurrence of a “Qualified Subsequent Financing” or “Change of Control” and bear interest at
a rate of 15% per annum. The Company’s obligations under the Notes are secured by liens on substantially all of the Company’s
assets pursuant to the terms of a Security Agreement between the Company and the Investors.

Equity
Investments

ATM
Financing

On
October 23, 2024, we entered into an ATM Agreement with Alexander Capital for the sale of shares of common stock from