Company: BOF
Filing Date: 2025-07-03
Form Type: S-3
Source: 0001641172-25-017784
Chunk: 11

Company: BranchOut Food Inc.
Filing Date: 2025-07-03
Form: S-3
Chunk 11
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 the sale of $400,000 of Senior Secured Promissory Notes (the “Senior Notes”), and warrants to purchase an aggregate of 100,000 shares of our common stock at an exercise price of $2.00 per share, to a group of six investors led by Eagle Vision Fund LP, an affiliate of John Dalfonsi, our Chief Financial Officer. On April 16, 2024, we completed the sale of an additional $225,000 of Senior Notes, and warrants to purchase an additional 56,250 shares of our common stock, and in May 2024, we completed sales of an additional $1,050,000 of Senior Notes, and Warrants to purchase an additional 262,500 shares of our common stock. Eagle Vision was paid aggregate cash fees in the amount of $177,500 from the sales of the Senior Notes in consideration of services rendered and to be rendered by Eagle Vision to the Company and the holders of the Senior Notes, including conducting due diligence, monitoring our performance of our obligations under the Senior Notes, servicing the interest and principal payments for holders of the Senior Notes, engaging in ongoing discussions with management regarding our operations and financial condition, acting as collateral agent, and evaluating financial and non-financial information related us. In connection with the sale of the Purchased Securities to Kaufman Kapital, we entered into an Omnibus Amendment to Note Documents with substantially all of the holders (the “Holders”) of the Senior Notes, pursuant to which, among other things, (i) the exercise price of the warrants issued to the Holders was reduced from $2.00 to $1.00, (ii) the outside maturity date of the Senior Notes held by the Holders was extended from December 31, 2024 to December 31, 2025 (subject to further extension in the event the maturity date of the Convertible Note held by Kaufman Kapital LLC is extended), (iii) our obligation to make payments of principal under the Senior Notes held by the Holders beginning July 1, 2024 has been eliminated, and instead all obligations of the Company under such Senior Notes will be due in one lump sum on the maturity date of the Senior Notes, and (iv) our obligations under the Convertible Note and liens granted to the holder thereof, are pari passu with our obligations under the Senior Notes held by the Holders and liens granted to the holders thereof.

Pursuant to the Underwriting Agreement we entered into on