Company: SWAGW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074995
Chunk: 352

Company: Stran & Company, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 352
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 (“PIPE Warrants”) at an exercise price of $4.97 per share. In conjunction with the Company’s PIPE offering, the
Company issued warrants to the placement agent for the PIPE which entitled the holders to purchase up to 131,158 shares of common stock
at an exercise price of $4.97 per share. These warrants were exercisable beginning six months from the date of the PIPE with a five-year
expiration term.

As of June 30, 2025, IPO warrants totaling 659,456 have
been exercised.

As of June 30, 2025 and December 31,
2024, there have been no exercises of the PIPE Warrants and there were 5,596,061 PIPE Warrants remaining outstanding.

The following table reflects all outstanding
and exercisable warrants at June 30, 2025 and December 31, 2024:

     Number of 
Warrants 
Outstanding   Weighted 
Average 
Exercise 
Price   Weighted 
Average 
Life (Years)   Aggregate

Intrinsic 
Value   Outstanding at December 31, 2024   10,074,195   $4.91    3.0   $—   Outstanding at June 30, 2025   10,074,195   $4.91    2.5   $—  

Stock Repurchase Program

On February 21, 2022, the board of
directors of the Company authorized a repurchase of up to $10 million of the Company’s shares from time to pursuant to a stock 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 10b-18 promulgated under the Exchange Act.
On June 30, 2025, the Company adopted broker repurchase instructions pursuant to Rule 10b-18 and Rule 10b5-1 promulgated pursuant to the
Exchange Act. Each of the above broker repurchase instructions was adopted in accordance with the restrictions that would apply to the
Company if it were subject to the Stran & Company