BranchOut Food (NASDAQ:BOF) Enters into At-The-Market Issuance Sales Agreement with Alexander Capital, L.P.

On October 23, 2024, BranchOut Food Inc., a Nevada corporation, revealed in a recent 8-K filing that they have entered into an At-The-Market Issuance Sales Agreement with Alexander Capital, L.P. The agreement allows BranchOut Food to issue and sell shares of its common stock to or through Alexander Capital, with an aggregate offering price of up to $3,000,000.

According to the filing, sales of the shares will be conducted through Alexander Capital, acting as the company’s sales agent, utilizing prevailing market prices in what is classified as an “at the market offering” under Rule 415 of the Securities Act of 1933. The agreement specifies that Alexander Capital will use its best efforts to sell all shares requested by BranchOut Food, subject to the terms and conditions outlined in the agreement.

The shares to be sold and issued will be done so in accordance with the company’s Registration Statement on Form S-3 (File No. 333-282298), which was declared effective by the Securities and Exchange Commission (SEC) on October 2, 2024. A prospectus supplement dated October 23, 2024, is also part of the offering document.

The offering under the ATM Agreement will cease under two conditions, which are the sale of all shares covered by the agreement or the termination of the agreement by either BranchOut Food or Alexander Capital. As part of the agreement, Alexander Capital is entitled to a commission equal to 3.0% of the gross proceeds from the sale of shares and reimbursement for certain expenses incurred during the process. The company has additionally agreed to provide customary indemnification and contribution rights to Alexander Capital.

The specifics of the ATM Agreement, along with relevant legal opinions, are documented in the filings associated with the 8-K report. It should be noted that this current report, together with the exhibits attached, does not constitute an offer to sell or a solicitation to buy the shares outlined in the agreement, nor does it permit any such activity in states where it would violate securities laws.

In compliance with the filing requirements, certain exhibits have been attached to the report, including the At-The-Market Issuance Sales Agreement, the legal opinion of Pachulski Stang Ziehl & Jones LLP, and a consent document from the same legal entity.

BranchOut Food’s Chief Executive Officer, Eric Healy, signed the report on behalf of the company as of October 23, 2024. The filing emphasizes the company’s engagement in financial activities, aiming to potentially leverage the offering to support its strategic objectives and financial goals.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BranchOut Food’s 8K filing here.

BranchOut Food Company Profile

BranchOut Food Inc develops, markets, sells, and distributes plant-based dehydrated fruit and vegetable snacks, and powders in the United States. The company offers dehydrated fruit and vegetable-based snacks, including avocado chips, chewy banana bites, pineapple chips, brussels sprout crisps, and bell pepper crisps; avocado, banana, and blueberry powders; and industrial ingredients, such as bulk avocado powder, dried avocado pieces, and other fruit powders/pieces.