Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 390

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 390
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writer a Common Stock Purchase Warrant to purchase up to 82,110 shares
of Common Stock at an exercise price of $7.20, which may be exercised for a five-year period beginning December 18, 2023.

Prior
to the IPO, all deferred offering costs were capitalized in other noncurrent assets on the balance sheets. Deferred offering costs of
$1,283,954, primarily consisting of accounting, legal, and other fees related to the Company’s IPO, were offset against the IPO
proceeds upon the closing of the Company’s IPO in June 2023.

Unit
Offering Sale of Common Stock and Warrants, Related Parties for the Year Ended December 31, 2024

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; 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, an affiliate of Mr. Dalfonsi, the Company’s CFO,
resulting in the issuance of an aggregate of 692,429 shares of common stock and warrants to purchase 865,536 shares of common stock.

    F-23

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

Follow-on
Offering of Common Stock

On
June 26, 2024, the Company entered into an Underwriting Agreement (the “Underwriting Agreement”) with Alexander Capital,
L.P. as the Representative of the underwriters named therein (the “Representative” and such other Underwriters, the “Underwriters”),
relating to the issuance and sale by the Company to the Underwriters (the “Public Offering”) of 1,750,000 Shares (the “Shares”)
of common stock at a price to the public of $0.80