Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1352

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1352
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 at an exercise
price of $5.19 with a five-year expiration term.

The Company has outstanding private
placement warrants which entitle the holders to purchase up to 5,464,903 shares of common stock at an exercise price of $4.97 per share,
which will expire five years from issuance (“PIPE Warrants”). The PIPE Warrants have certain downward pricing adjustment mechanisms,
including with respect to any subsequent equity sale that is deemed a dilutive issuance, in which case the PIPE Warrants will be subject
to a floor price of $1.00 per share, as set forth in the PIPE Warrants.

The Company has outstanding 131,158
warrants issued to the placement agent for the PIPE that were exercisable beginning six months from the date of the PIPE at an exercise
price of $4.97 with a five-year expiration term.

As of December 31, 2024 and 2023 PIPE Warrant holders have
exercised zero PIPE Warrants and there were 5,596,061 PIPE Warrants outstanding.

The following table reflects all outstanding
and exercisable warrants at December 31, 2024 and 2023:

     Number of Warrants Outstanding   Weighted Average Exercise Price   Weighted Average Life (Years)   Aggregate Intrinsic Value   Balance January 1, 2023   10,074,195   $4.91    5.0   $—   Balance December 31, 2023   10,074,195   $4.91    4.0   $—   Balance December 31, 2024   10,074,195   $4.91    3.0   $—  

Stock Repurchase Program

On February 21, 2022, the Board of
Directors of the Company authorized a repurchase of up to $10,000 of the Company’s shares from time to pursuant to a stock repurchase
program, or the Repurchase Program. Under the terms of the Repurchase Program, the Company may repurchase shares through open market or
negotiated private transactions. The timing and extent of any purchases depend upon ongoing assessments of the Company’s capital
needs, market conditions and the price of the Company’s common stock, and other corporate considerations, as determined by management,
and are subject to the restrictions relating to volume, price and timing under applicable laws, including but not limited to, Rule