BranchOut Food Inc. Files 8-K: Agreements, Equity Sales, Officer Changes
Ticker: BOF · Form: 8-K · Filed: Jul 29, 2024 · CIK: 1962481
Sentiment: neutral
Topics: material-agreement, financial-obligation, equity-sale, management-change
TL;DR
BranchOut Food Inc. (BOF) filed an 8-K detailing new debt, equity sales, and exec changes. Watch closely.
AI Summary
BranchOut Food Inc. entered into a material definitive agreement on July 23, 2024, related to a direct financial obligation. The company also reported on the creation of a direct financial obligation or an off-balance sheet arrangement, unregistered sales of equity securities, and changes in directors and officers, including compensatory arrangements. The filing also includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions at BranchOut Food Inc., including new financial obligations and equity transactions, which could impact its financial structure and shareholder value.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered equity sales, which can introduce financial and operational risks.
Key Players & Entities
- BranchOut Food Inc. (company) — Registrant
- July 23, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
FAQ
What specific material definitive agreement did BranchOut Food Inc. enter into on July 23, 2024?
The filing indicates the entry into a material definitive agreement on July 23, 2024, but the specific details of the agreement are not provided in the provided text.
What type of financial obligation was created by BranchOut Food Inc.?
The filing mentions the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the exact nature and amount are not detailed in the provided text.
Were there any unregistered sales of equity securities by BranchOut Food Inc.?
Yes, the filing explicitly lists 'Unregistered Sales of Equity Securities' as an item of information, indicating such sales have occurred.
What changes occurred regarding BranchOut Food Inc.'s directors or officers?
The filing reports on the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers', indicating changes in leadership and related compensation.
What is the business address and phone number for BranchOut Food Inc.?
The business address is 205 SE Davis Avenue, Suite C, Bend, OR 97702, and the business phone number is 844-263-6637.
Filing Stats: 1,775 words · 7 min read · ~6 pages · Grade level 11.5 · Accepted 2024-07-29 16:05:36
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share BOF Nasdaq Capital Marke
- $3,400,000 — y Note in the principal amount of up to $3,400,000 (the "Convertible Note"), convertible i
- $0.7582 — re ("Common Stock") at a fixed price of $0.7582 per share of Common Stock, a (ii) a war
- $1.00 — of Common Stock at an exercise price of $1.00 per share (the "$1.00 Warrant"), and (i
- $1.50 — of Common Stock at an exercise price of $1.50 per share (the "$1.50 Warrant" and, tog
- $2,000,000 — initial loan in the principal amount of $2,000,000 (the "Initial Loan") to be made to the
- $5,000,000 — , 2025, (ii) the sale by the Company of $5,000,000 of equity or debt securities in a singl
- $2.00 — issued to the Holders was reduced from $2.00 to $1.00, (ii) the outside maturity dat
- $1 — o the Holders was reduced from $2.00 to $1.00, (ii) the outside maturity date of t
- $525,000 — which such investors agreed to purchase $525,000 of "Units" from the Company, each Unit
- $75.82 — , at a purchase price per Unit equal to $75.82. The Company completed the sale of the
Filing Documents
- form8-k.htm (8-K) — 61KB
- ex4-1.htm (EX-4.1) — 81KB
- ex4-2.htm (EX-4.2) — 85KB
- ex4-3.htm (EX-4.3) — 85KB
- ex10-3.htm (EX-10.3) — 96KB
- ex10-4.htm (EX-10.4) — 47KB
- 0001493152-24-029419.txt ( ) — 711KB
- bof-20240723.xsd (EX-101.SCH) — 3KB
- bof-20240723_lab.xml (EX-101.LAB) — 33KB
- bof-20240723_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BranchOut Food Inc. Date: July 29, 2024 By: /s/ Eric Healy Eric Healy, Chief Executive Officer 3