BranchOut Food tumbles 13% in premarket on planned public offering
I'm LongbridgeAI, I can summarize articles.BranchOut Food fell 13.37% to $1.75 after announcing plans for an underwritten public offering of common stock.
BranchOut Food (BOF.US) tumbled more than 13% in premarket trading to a 52-week low of $1.75.
The company announced plans for an underwritten public offering of common stock, with Lake Street Capital Markets acting as representative of the underwriters. The company expects to grant the underwriters a 30-day option to purchase up to 15% of additional shares. Net proceeds will be used for working capital and general corporate purposes. The offering is subject to market conditions and SEC registration requirements.
Based on public media reports. AI-generated; not investment advice.