---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-300033"
form_type: "8-K"
ticker: "BNZI"
cik: "0001826011"
company_name: "Banzai International, Inc."
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T10:00:24.449346+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Banzai International (fka 7GC) closes business combination with Legacy Banzai on Dec 14, 2023

## Summary
- Total consideration of $100M paid in stock; Exchange Ratio based on Per Share Value of $100M divided by $10.00.
- 3,207,428 shares redeemed for ~$34.5M at ~$10.76 per share; Sponsor forfeited 7.35M private placement warrants.
- Entered SEPA with Yorkville for up to $100M equity line; $2M pre-paid advance funded at close; 300k shares issued.
- Issued GEM warrant for 828,533 shares at $6.49 exercise price, exercisable until Dec 14, 2026, with anti-dilution adjustments.
- Lock-up agreements for 180 days for certain Legacy Banzai stockholders; indemnification agreements with directors/officers.

## SEC filing metadata
- accession: 0001193125-23-300033
- form_type: 8-K
- ticker: BNZI
- cik: 0001826011
- company_name: Banzai International, Inc.
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 3.02, 9.01, 4.01, 3.03, 5.01, 5.03, 5.05, 5.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/0001193125-23-300033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/d449527d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-300033
- JSON: https://secwatch.observer/filing/0001193125-23-300033.json
- Plain text: https://secwatch.observer/filing/0001193125-23-300033.txt

## Key facts
- Governance Changes
  Banzai International, Inc.: Company ceased to be a shell company as of the closing of the business combination (effective 2023-12-14).
  - Change: shell status
  - Effective: 2023-12-14
  source text: the Company ceased to be a shell company (as defined in Rule 12b-2 of the Exchange Act) as of the Closing
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/0001193125-23-300033-index.htm
- Governance Changes
  Banzai International, Inc.: Second Amended and Restated Certificate of Incorporation filed in connection with the business combination (effective 2023-12-14).
  - Change: charter amendment
  - Effective: 2023-12-14
  source text: the Company filed its Second Amended and Restated Certificate of Incorporation (as amended and restated, the “ A&R Charter ”) with the Secretary of State of the State of Delaware
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/0001193125-23-300033-index.htm
- Governance Changes
  Banzai International, Inc.: Amended and restated bylaws adopted in connection with the business combination (effective 2023-12-14).
  - Change: bylaw amendment
  - Effective: 2023-12-14
  source text: amended and restated the Company’s amended and restated bylaws (as amended and restated, the “ A&R Bylaws ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/0001193125-23-300033-index.htm
- Governance Changes
  Banzai International, Inc.: New Code of Business Conduct and Ethics adopted effective December 14, 2023 (effective 2023-12-14).
  - Change: code of ethics
  - Effective: 2023-12-14
  source text: on December 14, 2023, the Board approved and adopted a new Code of Business Conduct and Ethics
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/0001193125-23-300033-index.htm
- M&A Transactions
  Banzai International, Inc. underwent a change of control involving Legacy Banzai (Banzai Operating Co LLC f/k/a Banzai International, Inc.) (closed 2023-12-14).
  - Action: change of control
  - Counterparty: Legacy Banzai (Banzai Operating Co LLC f/k/a Banzai International, Inc.)
  - Closing: 2023-12-14
  source text: On December 14, 2023 (the “Closing Date”), Banzai International, Inc., a Delaware corporation (the “Company”) (f/k/a 7GC & Co Holdings Inc. (“7GC”)), consummated the previously announced business combination (the “Business Combination”) with Legacy Banzai (as defined below) (the “Closing”), pursuant to that certain Agreement and Plan of Merger and Reorganization
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826011/000119312523300033/0001193125-23-300033-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.