BranchOut Food (NASDAQ: BOF) expands Kaufman secured debt to $4M at 8%
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
BranchOut Food Inc. obtained an additional $1,000,000 loan from Kaufman Kapital LLC on June 30, 2026 under its existing senior secured financing arrangement.
This new borrowing is documented in a Third Amended and Restated Senior Secured Promissory Note with a total principal of $4,000,000. The amended note bears interest at 8% per annum, matures on January 28, 2027, and is secured by a lien on substantially all company assets under a prior Security Agreement. The company plans to use the added funds for working capital to produce customer orders.
Positive
- None.
Negative
- None.
8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Additional Loan Amount: $1,000,000
Amended Note Principal: $4,000,000
Interest Rate: 8% per annum
+4 more
7 metrics
Additional Loan Amount
$1,000,000
Borrowed June 30, 2026 from Kaufman Kapital LLC
Amended Note Principal
$4,000,000
Third Amended and Restated Senior Secured Promissory Note
Interest Rate
8% per annum
On the $4,000,000 senior secured promissory note
Maturity Date
January 28, 2027
Maturity of the Amended Note
Initial Note Principal
$1,500,000
Borrowed January 28, 2026 from Kaufman
First Amended Note Principal
$2,250,000
Amended and Restated Secured Promissory Note on April 17, 2026
Second Amended Note Principal
$3,000,000
Second Amended and Restated Secured Promissory Note on May 15, 2026
Key Terms
Senior Secured Promissory Note, Amended and Restated Secured Promissory Note, Third Amended and Restated Secured Promissory Note, Security Agreement, +2 more
6 terms
Senior Secured Promissory Note financial
"pursuant to a Senior Secured Promissory Note in the principal amount of $1,500,000"
A senior secured promissory note is a written IOU in which a borrower promises to repay a loan and gives lenders first claim on specific assets if the borrower can't pay. Being "senior" means this debt gets paid before other unsecured obligations, and "secured" means assets back the loan, reducing potential losses for lenders. For investors, that priority and collateral typically make these notes safer and often carry lower interest than unsecured debt—think of being first in line with a pledge on the borrower's car.
Amended and Restated Secured Promissory Note financial
"pursuant to an Amended and Restated Secured Promissory Note in the principal amount of $2,250,000"
Third Amended and Restated Secured Promissory Note financial
"pursuant to a Third Amended and Restated Secured Promissory Note in the principal amount of $4,000,000"
Security Agreement financial
"secured by a lien granted to Kaufman on substantially all of the Company’s assets pursuant to a Security Agreement"
A security agreement is a legal contract in which a borrower promises specific assets as collateral to a lender until a debt is repaid. Think of it like leaving your car keys with a mechanic while they fix the car — the lender can take or sell the pledged assets if the borrower defaults. For investors, these agreements reveal which company assets are tied up, who gets paid first in trouble, and how risky other creditors’ claims may be.
working capital financial
"The Company intends to use the proceeds of the Additional Loan for working capital purposes"
Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.
affirmative and negative covenants financial
"the Amended Note includes affirmative and negative covenants, events of defaults and other terms"
FAQ
What financing did BranchOut Food Inc. (BOF) add with Kaufman Kapital on June 30, 2026?
BranchOut Food Inc. added an extra $1,000,000 loan from Kaufman Kapital LLC on June 30, 2026, bringing its total senior secured promissory note principal to $4,000,000 under a Third Amended and Restated Note.
What are the key terms of BranchOut Food’s amended $4,000,000 promissory note?
The amended note has a total principal of $4,000,000, bears interest at 8% per annum, and matures on January 28, 2027. It is senior, secured, and includes customary covenants, events of default, and other standard terms.
How will BranchOut Food Inc. (BOF) use the new $1,000,000 loan proceeds?
BranchOut Food intends to use the additional $1,000,000 loan proceeds for working capital, specifically to fund production of customer orders. This focuses the borrowed funds on supporting ongoing operations and fulfilling existing demand.
What collateral secures BranchOut Food’s amended $4,000,000 note with Kaufman?
The company’s obligations under the amended $4,000,000 note are secured by a lien on substantially all of the company’s assets, granted to Kaufman Kapital LLC under an existing Security Agreement dated July 23, 2024.
What earlier borrowings from Kaufman Kapital has BranchOut Food reported?
Previously, BranchOut Food borrowed $1,500,000 on January 28, 2026, then increased this to $2,250,000 on April 17, 2026 and $3,000,000 on May 15, 2026 through amended and restated secured promissory notes with Kaufman Kapital LLC.