Business
BranchOut Food Announces Closing of $1.4 Million Follow-On Public Offering
BEND, Ore., June 28, 2024 (GLOBE NEWSWIRE) -- BranchOut Food Inc. (NASDAQ: BOF), (“BranchOut” or the “Company”), a leading food technology company
About this update from Branchout Food Inc.
[{"type":"text","content":"BEND, Ore., June 28, 2024 (GLOBE NEWSWIRE) -- BranchOut Food Inc. (NASDAQ: BOF), (“BranchOut” or the “Company”), a leading food technology company specializing in dehydrated fruit and vegetable-based products, today announced the closing of its underwritten public offering of 1,750,000 shares of common stock at a public offering price of $0.80 per share. The gross proceeds from the offering, before underwriting discounts and commissions and estimated offering expenses payable by the Company, are approximately $1,400,000. In addition, the Company has granted the underwriters a 45-day option to purchase up to 262,500 additional shares of common stock at the public offering price, less the underwriting discounts. The Company intends to use the net proceeds of the offering for working capital and general corporate purposes, including operating expenses and capital expenditure. Alexander Capital L.P. acted as sole bookrunner for the offering. Pachulski Stang Ziehl & Jones, LLP served as counsel to BranchOut. Sullivan & Worcester LLP served as counsel to the underwriters. The securities described above were offered by BranchOut pursuant to a registration statement on Form S-1, as amended (File No. 333-280428) that was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 26, 2024. The offering was made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained from Alexander Capital L.P., 10 Drs James Parker Boulevard #202, Red Bank, New Jersey 07701, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing [email protected] or by logging on to the SEC’s website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About BranchOut Food Inc. BranchOut is an international food-tech company deliveri...