secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2023-10-04T23:59:59+00:00
Accession:  0001193125-23-250809
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

7GC & Co. Holdings enters $500K promissory note with sponsor for working capital
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- Unsecured note issued to 7GC & Co. Holdings LLC allows draws up to $500,000 for working capital.
- Note bears no interest; principal due upon business combination or trust liquidation.
- Sponsor may convert principal at $10/share into Class A common stock at business combination.
- Drawdown requests permitted until December 28, 2023, with minimum $10,000 per draw.
- Sponsor waives all claims against trust account, protecting SPAC investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000119312523250809/0001193125-23-250809-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000119312523250809/d548057d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-250809

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer