BranchOut Food Inc. (NASDAQ:BOF) ("BranchOut" or the "Company"), a growth-stage consumer packaged foods company focused on developing, manufacturing, marketing and distributing clean-label, plant-based dried fruit and vegetable snacks, today announced that it has commenced an underwritten public offering (the "Offering") of shares of its common stock to multiple investors. All of the shares in the Offering are to be sold by the Company.
Lake Street Capital Markets, LLC is acting as the representative of the underwriters for the Offering. The Company expects to grant the representative a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the Offering solely to cover over-allotments. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed or as to the actual size or terms of the Offering.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes, including operating expenses and capital expenditures.
The shares of common sto