Kaufman Kapital Reduces Stake in BranchOut Food Inc. to 33.4% Amid Warrant Exercise and Note Amendment

On May 7, 2026, Kaufman Kapital LLC and Daniel L. Kaufman filed Amendment No. 3 to their Schedule 13D for BranchOut Food Inc. (BOF). The filing reports a decrease in beneficial ownership to 33.4% (6,596,154 shares) from a previous 34.5%. This change resulted from the open-market sale of 255,951 shares on May 5, 2026, at an average price of $3.2880, partially offset by the full exercise of a $1.50 warrant for 500,000 shares on May 7, 2026. Simultaneously, the reporting persons entered into a 'May 2026 Agreement' with the issuer, extending the maturity date of a $2.9 million convertible note to December 31, 2027, and reducing the interest rate from 12% to 8%. The agreement also restricts the issuer from prepaying more than $2.4 million of the note principal before September 30, 2027, without consent. The total beneficial ownership includes 1,903,506 shares held directly and 4,692,648 shares issuable upon the conversion of the note's principal and accrued interest.