Jun. 2 at 10:24 AM
$BOF BranchOut Food announces strategic agreement with Kaufman Kapital
BranchOut Food announces the execution of a strategic agreement with Kaufman Kapital, resulting in a
$1M cash infusion through the early exercise of existing warrants. The agreement also includes amendments to existing financing terms that strengthen BranchOut's balance sheet, allow for debt repayment and extend key debt maturities. Under the terms of the agreement, Kaufman Kapital will exercise in full an existing warrant to purchase 1M shares of BranchOut's common stock, providing the company with
$1M in cash proceeds no later than June 16, 2025.
In addition, the parties agreed to the following amendments: Extension of the maturity date of the
$3.4M Senior Secured Convertible Promissory Note from December 31, 2025 to December 31, 2026. Extension of the maturity date on the remaining
$875,000 balance of the original
$1.2M Kaufman Senior Secured Promissory Note to December 31, 2025. Extension of the expiration date of a separate warrant to purchase 500,000 shares to December 31, 2026.
