Business
BranchOut Food Announces Pricing of Initial Public Offering
BEND, OR / ACCESSWIRE / June 16, 2023 / BranchOut Food Inc. (NASDAQ:BOF) ("BranchOut" or the "Company"), an emerging natural food brand with a licensed
About this update from Branchout Food Inc.
[{"type":"text","content":"BEND, OR / ACCESSWIRE / June 16, 2023 / BranchOut Food Inc. (NASDAQ:BOF) (\"BranchOut\" or the \"Company\"), an emerging natural food brand with a licensed technology platform that enables manufacturing and marketing of plant-based dehydrated foods, today announced the pricing of its underwritten initial public offering of 1,190,000 shares of common stock at an initial public offering price of $6.00 per share. The gross proceeds from the offering, before underwriting discounts and commissions and estimated offering expenses payable by the Company, are expected to be approximately $7,140,000. In addition, the Company has granted the underwriters a 45-day option to purchase up to 178,500 additional shares of common stock at the initial public offering price, less the underwriting discounts.The shares are expected to begin trading on The Nasdaq Capital Market on June 16, 2023 under the ticker symbol \"BOF\". The offering is expected to close on June 21, 2023 subject to the satisfaction of customary closing conditions.The Company intends to use the net proceeds of the initial public offering for repayment of indebtedness, working capital and general corporate purposes, including operating expenses and capital expenditures.Advisor DetailsAlexander Capital L.P. is acting as sole book-running manager and Spartan Capital Securities, LLC is acting as manager for the offering. Parr Brown Gee & Loveless P.C. and the law office of Rowland Day served as co-counsel to BranchOut. Sullivan & Worcester LLP served as counsel to the underwriters.The securities described above are being offered by BranchOut pursuant to a registration statement on Form S-1, as amended (File No. 333-271422) that was declared effective by the U.S. Securities and Exchange Commission (the \"SEC\") on June 15, 2023. The offering is being 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, when available, may be obtained from Alexander Capital L.P., 17 State Street 5th Floor, New York, NY 10004, 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 cons...