Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 186

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 9
Chunk 186
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an affiliate of John Dalfonsi, CFO of the Company, pursuant to a subscription agreement between the Company and the Investors.

Pursuant
to the subscription agreements, Eagle Vision was paid aggregate cash fees in the amount of $177,500 upon the closing of the transactions
for due diligence fees in consideration of services rendered and to be rendered by Eagle Vision to the Company and the investors, including
conducting due diligence with respect to the Company, monitoring the performance by the Company of its obligations under the senior secured
notes, servicing the interest and principal payments for purchasers, engaging in ongoing discussions with the Company’s management
regarding the Company’s operations and financial condition, acting as collateral agent, and evaluating financial and non-financial
information related to the Company, which services are to be provided by Eagle Vision until the senior secured notes have been paid in
full, and an aggregate $35,000 of legal fees was paid to Investors’ counsel.

46

The
Notes mature on the earlier of December 31, 2025, or the occurrence of a Qualified Subsequent Financing or Change of Control (as such
terms are defined in the Subscription Agreement) and bear interest at a rate of 15% per annum. In addition, the Notes are subject to
covenants, events of defaults and other terms and conditions set forth in the Subscription Agreement. 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.

Each
Warrant is exercisable for a ten-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