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BranchOut Food Inc

Filed Jun 24, 2024.

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About this filing

A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.

period unavailable · Filed Jun 24, 2024

BOF$1.68-2.3%Stored close · as of Nov 6, 2026
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As filed with the Securities and Exchange Commission on June 24, 2024

File No. 333-

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORMS-1

REGISTRATION STATEMENT

UNDER THE SECURITIES ACT OF 1933

BranchOut Food Inc.

(Exact Name of Registrant as Specified in its Charter)

Nevada200087-3980472
(State or other jurisdiction of incorporation or organization)(Primary Standard Industrial Classification Code Number)(I.R.S. Employer Identification No.)

205 SE Davis Ave., Suite C

Bend, Oregon 97702

(844) 263-6637

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

Eric Healy

Chief Executive Officer

205 SE Davis Ave., Suite C

Bend, Oregon 97702 (844) 263-6637

(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)

With copies to:

Rowland Day, Esq. General Counsel 205 SE Davis Ave., Suite C Bend, Oregon 97702 (844) 263-6637 Zev M. Bomrind, Esq. Pachulski Stang Ziehl & Jones, LLP 780 Third Avenue, 34th Floor New York, NY 10017 (212) 561-7700David Danovitch, Esq. Aaron M. Schleicher, Esq. Charles E. Chambers Jr., Esq. Sullivan & Worcester LLP 1251 Avenue of the Americas New York, New York 10020 (212) 660-3000

**Approximate date of commencement of proposed sale to public:**As soon as practicable after this Registration Statement becomes effective.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large-accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large-accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large-accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, check indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 7(a)(2)(B) of the Securities Act.☐

The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.

The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state or jurisdiction where the offer or sale is not permitted.

SUBJECT TO COMPLETION, DATED JUNE 24, 2024

PRELIMINARY PROSPECTUS

2,300,000****Shares of Common Stock

132,250****Shares of Common Stock Underlying the Representative’s Warrants

We are offering 2,300,000 shares of our common stock at an assumed offering price of $ per share.

Alexander Capital, L.P. is acting as the representative of the underwriters (or the “Representative”) in the public offering on a firm commitment basis. If we sell all 2,300,000 shares of common stock we are offering pursuant to this prospectus, at the assumed offering price of $ per share, we will receive $ in gross proceeds and approximately $ million in net proceeds, after deducting the underwriting discount and estimated offering expenses payable by us.

Our common stock is traded on the Nasdaq Capital Market (“Nasdaq”) under the symbol “BOF”. On June 21, 2024, the last reported sales price for our common stock was $1.43 per share. The actual public offering price per share will be determined between us and Representative, and may be at a discount to the current market price of our common stock. Therefore, the assumed public offering price used throughout this prospectus may not be indicative of the final offering price. See “Underwriting—Offering Price Determination”.

We intend to use the proceeds from this offering for working capital and general corporate purposes, including operating expenses and capital expenditures. See “Use of Proceeds.”

Investing in our securities is highly speculative and involves a high degree of risk. You should carefully consider the risks and uncertainties described under the heading “Risk Factors” beginning on page 8 of this prospectus before making a decision to purchase our securities.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of THESE SECURITIES or PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. Any representation to the contrary is a criminal offense.

Per ShareTotal
Public offering price$$
Underwriting discounts and commissions(1)$$
Non-accountable expense allowance(2)$$
Proceeds, before expenses, to us(3)$$
(1)Represents an underwriting discount equal to 8% of the gross offering proceeds. For a description of the other compensation to be received by the underwriters, please see “Underwriting” beginning on page 58.
(2)Represents a non-accountable expense allowance equal to 1% of the gross proceeds of this offering, payable to the Representative.
(3)We estimate the total expenses of this offering will be approximately $330,000, excluding underwriting discounts. This does not include the issuance to the Representative of warrants exercisable for up to 132,250 shares of common stock, at a per share exercise price equal to 120% of the offering price of the shares of common stock, and assumes no exercise of the over-allotment option described below.

We have granted the Representative the option to purchase, exercisable within 45 days of the date of this prospectus, to purchase up to 345,000 additional shares of common stock on the same terms and conditions set forth above, solely to cover over-allotments.

The underwriters expect to deliver the shares of common stock to purchasers in the offering on or about , 2024.

The date of this prospectus is , 2024.

Sole Bookrunner

ALEXANDER CAPITAL L.P.

TABLE OF CONTENTS

Page
ABOUT THIS PROSPECTUSii
MARKET DATAiii
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSiv
PROSPECTUS SUMMARY1
THE OFFERING7
RISK FACTORS8
USE OF PROCEEDS25
DIVIDEND POLICY25
CAPITALIZATION26
DILUTION27
BUSINESS28
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS34
OUR MANAGEMENT46
EXECUTIVE COMPENSATION49
CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS51
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT53
DESCRIPTION OF OUR SECURITIES54
MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS OF COMMON STOCK55
UNDERWRITING58
LEGAL MATTERS64
EXPERTS64
WHERE YOU CAN FIND MORE INFORMATION64
INDEX TO FINANCIAL STATEMENTSF-1

i

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.