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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 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, ...