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BEND, Ore. - BranchOut Food Inc. (NASDAQ:BOF), a $28.4 million market cap company whose stock has surged over 200% in the past year, announced Tuesday that its Cinnamon Churro Banana Chips will be included in the U.S. Army’s upcoming field test of the Close Combat Assault Ration (CCAR).
The company’s product will be part of the 2025 CCAR initial operational test and evaluation, where the Army’s Combat Capabilities Development Command (DEVCOM) will collect feedback from soldiers. The CCAR is designed to sustain troops for up to five days on the move, requiring food that is lightweight, nutrient-dense and shelf-stable.
"We’re honored to support our soldiers with products that deliver on taste, nutrition, and the rugged durability today’s missions require," said Eric Healy, CEO of BranchOut Food, in a press release statement.
The selection follows successful shelf life and sensory validation of the product for potential military use. BranchOut has multiple products under review for possible inclusion in future menu designs for both the CCAR and Meal, Ready-to-Eat (MRE) platforms.
BranchOut Food produces dehydrated fruit and vegetable products using its patented GentleDry Technology, which the company claims preserves up to 95% of the original nutrition of fresh produce.
The Nasdaq-listed company operates a facility in Peru and aims to expand its presence in government and commercial markets with its dehydration platform. According to InvestingPro, which offers 13+ additional insights about BOF’s financial health and valuation metrics, the company currently appears overvalued based on its Fair Value analysis.
In other recent news, BranchOut Food Inc. has secured a $1 million investment from Kaufman Kapital LLC through the early exercise of warrants. This strategic agreement is designed to strengthen BranchOut’s financial position by facilitating debt repayment. The agreement includes Kaufman Kapital purchasing 1,000,000 shares of BranchOut’s common stock, with the transaction expected to be completed by June 16, 2025. Additionally, several amendments to existing financial arrangements were made, such as extending the maturity date of a $3.4 million Senior Secured Convertible Promissory Note to December 31, 2026. Another $875,000 balance of an original $1.2 million note now has a maturity date of December 31, 2025. The expiration date for a warrant to purchase 500,000 shares has also been extended to December 31, 2026. BranchOut plans to use the funds from the warrant exercise to reduce debt and improve cash flow through enhanced production and efficiencies at its Peru facility. The company has filed a $10 million shelf registration for strategic growth opportunities, though it does not plan to use it for debt repayment or operating losses.
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