Banzai International, Inc. has undertaken a series of corporate events throughout 2024, including a 1-for-50 reverse stock split effective on September 19, 2024. Earlier in the year, on May 22, the company entered into a securities purchase agreement that led to the sale of various stock classes and warrants. As part of a debt reorganization, Banzai International settled debts with creditors such as GEM and Yorkville by issuing shares of Class A Common Stock. The company also converted outstanding promissory notes into stock, including those held by 7GC & Co. Holdings Inc. and Yorkville, and issued shares as compensation for marketing and consulting services. A waiver was received from Yorkville for an amortization event that occurred in January 2024 and was resolved by February 15, 2024. Banzai International is...Show More

Banzai International, Inc. has undertaken a series of corporate events throughout 2024, including a 1-for-50 reverse stock split effective on September 19, 2024. Earlier in the year, on May 22, the company entered into a securities purchase agreement that led to the sale of various stock classes and warrants. As part of a debt reorganization, Banzai International settled debts with creditors such as GEM and Yorkville by issuing shares of Class A Common Stock. The company also converted outstanding promissory notes into stock, including those held by 7GC & Co. Holdings Inc. and Yorkville, and issued shares as compensation for marketing and consulting services. A waiver was received from Yorkville for an amortization event that occurred in January 2024 and was resolved by February 15, 2024. Banzai International is addressing a potential Nasdaq delisting due to not meeting the Minimum Value of Listed Securities requirement and has a deadline of August 5, 2024, to regain compliance. The company has filed the necessary registration statements with the SEC for the resale of shares under various agreements and amended its Certificate of Incorporation to authorize more shares and reclassify existing shares following a merger with 7GC & Co. Holdings Inc.