{"url_path":"/sec/lsf/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds.**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1650696/0001437749-26-017096-index.html","accession_number":"0001437749-26-017096","cik":"0001650696","ticker":"LSF","issuer_name":"Laird Superfood, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1650696/0001437749-26-017096-index.html","primary_entity_key":"0001650696","primary_entity_name":"Laird Superfood, Inc."},"word_count":277,"has_tables":true,"body_markdown":"**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.**\n\n \n\nOn March 12, 2026, the Company issued and sold 50,000 shares of its Series A Preferred Stock, convertible at the option of the holder into common stock at an initial conversion price of $3.57 per share, subject to customary anti-dilution adjustments, at a purchase price of $1,000 per share, for aggregate gross proceeds of $50.0 million, to the Investor, pursuant to the Investment Agreement described in Note 3 to the unaudited consolidated condensed financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q. The shares of Series A Preferred Stock were issued in a private placement in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). The purchasers represented that they were “accredited investors” as defined in Rule 501 of Regulation D and that they were acquiring the Series A Preferred Stock for investment purposes and not with a view to, or for resale in connection with, any distribution thereof in violation of the Securities Act. No form of general solicitation or general advertising was used in connection with the offer and sale of the Series A Preferred Stock.\n\n \n\nThe net proceeds of approximately $49.2 million from the sale of the Series A Preferred Stock were used to fund a portion of the cash purchase price for the Navitas Acquisition, which closed concurrently on March 12, 2026, and for related fees and expenses. See Note 3 to the unaudited consolidated condensed financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information."}