Banzai International, Inc. has announced an offering of Class A Common Stock and Warrants, with the shares expected to be delivered on or about May 28, 2024. The offering includes 5,227,780 shares of Class A Common Stock and Pre-Funded Warrants to purchase up to 8,661,110 shares, alongside Common Warrants to purchase up to 13,888,890 shares. The public offering price is set at $0.18 per share and accompanying Common Warrant, and $0.1799 per Pre-Funded Warrant and accompanying Common Warrant. The Common Warrants are exercisable immediately at $0.18 per share and will expire five years from issuance, while each Pre-Funded Warrant is exercisable for one share of Class A Common Stock at $0.0001 per share. The securities are being sold pursuant to a securities purchase agreement dated May...Show More

Banzai International, Inc. has announced an offering of Class A Common Stock and Warrants, with the shares expected to be delivered on or about May 28, 2024. The offering includes 5,227,780 shares of Class A Common Stock and Pre-Funded Warrants to purchase up to 8,661,110 shares, alongside Common Warrants to purchase up to 13,888,890 shares. The public offering price is set at $0.18 per share and accompanying Common Warrant, and $0.1799 per Pre-Funded Warrant and accompanying Common Warrant. The Common Warrants are exercisable immediately at $0.18 per share and will expire five years from issuance, while each Pre-Funded Warrant is exercisable for one share of Class A Common Stock at $0.0001 per share. The securities are being sold pursuant to a securities purchase agreement dated May 22, 2024, with A.G.P./Alliance Global Partners acting as the Placement Agent on a best efforts basis. The Placement Agent will receive a fee based on the aggregate gross proceeds. Banzai International's Class A Common Stock is listed on The Nasdaq Global Market under the symbol 'BNZI', with the last reported sale price of $0.26 per share as of May 21, 2024. The Pre-Funded Warrants and Common Warrants will not be listed on any national securities exchange. Prior to the offering, CEO Joseph Davy held a 54.5% majority of the total outstanding voting power, which will change post-offering as he will no longer own a majority, leading to the company no longer being classified as a 'controlled company' under Nasdaq rules. Banzai International is designated as an 'emerging growth company' and is subject to reduced public disclosure requirements. The estimated proceeds before expenses are projected at $2,324,194, excluding any proceeds from the exercise of the Pre-Funded Warrants or Common Warrants.