debt
confidence high
sentiment neutral
materiality 0.65
BranchOut Food raises $900k in senior secured notes and warrants; total $1.525M
BranchOut Food Inc.
- Issued $900,000 in Senior Secured Promissory Notes and warrants for 225,000 shares to investors led by Eagle Vision Fund LP.
- Notes bear 15% interest, mature Dec 31, 2024, secured by substantially all assets; warrants exercisable at $2.00/share for 10 years.
- Aggregate senior notes issued to date: $1,525,000; warrants for 381,250 shares.
- Eagle Vision received $177,500 in fees plus $20,000 legal fees; related party: affiliate of director/CFO John Dalfonsi.
- First Amendment to Subscription Agreement ups offering cap from $400k to $2M and modifies interest terms.