BranchOut Food Inc. appoints new director

BranchOut Food Inc. (NASDAQ:BOF), a food and kindred products company with a market capitalization of $19 million, has announced the appointment of Lindsey L. Schwartz as a new director, effective from February 13, 2025.

According to InvestingPro data, the company has shown remarkable revenue growth of 372% in the last twelve months. The addition of Mr. Schwartz to the board was disclosed in a recent 8-K filing with the Securities and Exchange Commission.

Lindsey L. Schwartz, aged 57, brings extensive experience in the food service industry to BranchOut Food Inc. He holds the position of Executive Chairman at Schwartz Brothers Restaurants, which operates a series of full-service restaurants and food service companies primarily located in the Seattle, Washington area.

The company, based in Bend, Oregon, reported that there are currently no agreements in place between BranchOut Food Inc. and Mr. Schwartz in relation to his appointment as a director.

BranchOut Food Inc., which is incorporated in Nevada and has its executive offices in Oregon, operates within the food manufacturing sector under the SIC code 2000. The company’s common stock is traded on the Nasdaq Capital Market under the ticker symbol BOF.

This strategic move comes as the company continues to navigate the competitive landscape of the food industry. With Mr. Schwartz’s background and expertise, BranchOut Food Inc. aims to strengthen its board’s capabilities in overseeing the company’s operations and strategic direction. The appointment comes at a crucial time, as InvestingPro analysis indicates the company faces challenges with weak gross profit margins of 11.53% and rapid cash burn.

Investors and stakeholders of BranchOut Food Inc. will likely watch closely to see how Mr. Schwartz’s leadership influences the company’s growth and operational efficiency moving forward. The stock has experienced significant volatility, dropping 22.4% in the past week despite a remarkable 198.46% gain over six months.

For comprehensive analysis and additional insights, including 8 more key ProTips about BOF’s financial health, visit InvestingPro.

In other recent news, BranchOut Food Inc. has announced the appointment of Jesse Thomas as its new Chief Brand Officer. Thomas, who previously led Picky Bars, is expected to drive BranchOut’s brand and marketing strategies. The company aims to enhance its direct-to-consumer business and expand its presence in various channels, leveraging its GentleDry™ technology. BranchOut has projected to become cash flow positive this quarter and targets $9 million in revenue by the first half of 2025. These goals are bolstered by significant commitments from retailers and partners.

Additionally, BranchOut Food Inc. has amended its At-The-Market (ATM) equity offering, increasing the potential sale of shares from $3 million to $5 million. This amendment, filed with the Securities and Exchange Commission, allows the company to issue and sell common stock through Alexander Capital, L.P.

The increased offering size provides BranchOut with greater flexibility in managing its capital needs. The legal opinion on the validity of the shares was provided by Pachulski Stang Ziehl & Jones LLP. The company has not disclosed specific plans for the proceeds from this expanded offering.

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