8-K
filed January 16, 2024, 6:59 PM ET
ticker BOF
CIK 0001962481
debt
confidence high
sentiment neutral
materiality 0.75
BranchOut Food Inc. (BOF): debt financing — BranchOut Food raises $400K via 15% secured notes, appoints John Dalfonsi as CFO, Byron Jones as director
BranchOut Food Inc.
- $400,000 senior secured notes at 15% interest, plus warrants for 100,000 shares at $2.00; due Dec 31, 2024.
- Proceeds: $200,000 to repay John Hinman debt, rest for working capital; Eagle Vision Fund (Dalfonsi affiliate) paid $40,000 fee.
- Chris Coulter resigned as CFO; John Dalfonsi appointed CFO effective Jan 10, 2024.
- Byron Riché Jones appointed to board and as Audit Committee Chairman.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
BranchOut Food Inc. incurred senior notes of $400,000 of Senior Secured Promissory Notes with Eagle Vision Fund LP at 15% per annum maturing December 31, 2024.
- Instrument
- senior notes
- Principal
- $400,000 of Senior Secured Promissory Notes
- Counterparty
- Eagle Vision Fund LP
- Rate
- 15% per annum
- Maturity
- December 31, 2024
- Event
- incurrence
Exact text from the filing
On January 10, 2024, BranchOut Food Inc. (the “Company”) completed the sale of $400,000 of Senior Secured Promissory Notes (“Notes”) and Warrants
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Chris Coulter resigned as Chief Financial Officer at BranchOut Food Inc..
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
On January 10, 2024, Chris Coulter resigned as the Company’s Chief Financial Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John Dalfonsi was appointed as Chief Financial Officer at BranchOut Food Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
On January 10, 2024, John Dalfonsi resigned as a member of the Company’s Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, and was appointed to serve as the Company’s Chief Financial Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Byron Riché Jones was appointed as Director at BranchOut Food Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
On January 10, 2024, Byron Riché Jones was appointed to serve as a director of the Company and the Chairman of the Company’s Audit Committee.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
BranchOut Food Inc. entered into Subscription Agreement with a group of six investors (the "Investors") led by Eagle Vision Fund LP valued at $400,000 (effective 2024-01-10).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- a group of six investors (the "Investors") led by Eagle Vision Fund LP
- Value
- $400,000
- Effective
- 2024-01-10
Exact text from the filing
On January 10, 2024, BranchOut Food Inc. (the "Company") completed the sale of $400,000 of Senior Secured Promissory Notes ("Notes") and Warrants ("Warrants") to purchase an aggregate of 100,000 shares of the Company’s common stock, to a group of six investors (the "Investors") led by Eagle Vision Fund LP ("Eagle Vision"), an affiliate of John Dalfonsi, director of the Company, pursuant to a Subscription Agreement between the Company and the Investors (the "Subscription Agreement").
View on SEC.gov
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