Loan & DebtJul 1, 2026, 09:02 AM
BranchOut Food Secures Additional $1M Loan, Total Debt $4M
AI Summary
BranchOut Food Inc. secured an additional $1,000,000 loan from Kaufman Kapital LLC on June 30, 2026, increasing the total principal amount under its Third Amended and Restated Senior Secured Promissory Note to $4,000,000. The loan, which matures on January 28, 2027, carries an 8% annual interest rate and is secured by substantially all of the company's assets. The company intends to use the proceeds for working capital to fulfill customer orders.
Key Highlights
- BranchOut Food secured an additional $1,000,000 loan from Kaufman Kapital LLC.
- The total principal amount under the Third Amended and Restated Senior Secured Promissory Note is now $4,000,000.
- The loan matures on January 28, 2027.
- It bears an interest rate of 8% per annum.
- Proceeds will be used for working capital for the production of customer orders.
- The loan is secured by a lien on substantially all of the company’s assets.
Price Impact
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