secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0001193125-23-297160
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai enters $100M standby equity purchase agreement with Yorkville; receives $2M pre-paid advance
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- Up to $100M of Class A common stock may be sold to Yorkville at 95-96% of VWAP, subject to conditions and caps.
- Received $2M at closing under a convertible promissory note (0% interest, 18% default); additional $1.5M upon registration effectiveness.
- Yorkville received 300,000 closing shares; $500K commitment fee due by March 14, 2024 (cash or shares).
- Promissory note convertible at lower of $10/share or 90% of 10-day VWAP; floor price $2.00 or 20% of VWAP.
- Company must file resale registration statement within 21 days; advances available only after effectiveness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000119312523297160/0001193125-23-297160-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000119312523297160/d564833d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-297160

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