Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2640

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 14
Chunk 2640
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 share and are entitled to receive dividends when, as and if declared by the Board of Directors.

Warrants

The Company has outstanding publicly-traded
warrants which entitle the holders to purchase one share of common stock at an exercise price of $4.81375 per share as of December 31,
2024, which expire five years from issuance (“IPO Warrants”). As of December 31, 2024 and 2023, IPO Warrant holders exercised
an aggregate 659,456 IPO Warrants and there were 4,478,134 IPO Warrants outstanding.

The Company has 149,639 outstanding
warrants issued to the underwriters of the Company’s IPO that were exercisable beginning six months after the date of the IPO 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.