secwatch.observer — SEC 8-K summary
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Issuer:     BranchOut Food Inc. (BOF)
CIK:        0001962481
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0001493152-24-028523
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BranchOut Food secures up to $3.4M in convertible note financing and $525K insider unit offering
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- Enters SPA with Kaufman Kapital LLC for $2M initial advance under 12% secured convertible note due Dec 31, 2025.
- Additional $1.4M advance contingent on new dehydration machine from EnWave and Peru facility export revenues ≥$100k.
- Conversion price fixed at $0.7582/share; warrants to purchase 1M shares at $1.00 and 500k at $1.50.
- Company officers (CEO, CFO, other) commit $525k in unit offering: 100 shares + 125 warrants per unit at $75.82.
- Shareholder approval required for conversion/exercise above 19.9% threshold, per Nasdaq rules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1962481/000149315224028523/0001493152-24-028523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1962481/000149315224028523/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-028523

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer