secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2024-02-08T23:59:59+00:00
Accession:  0001193125-24-028341
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 3.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai receives Nasdaq MVLS deficiency notice; enters $4.5M Yorkville prepaid advance and GEM settlement
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- Nasdaq notified MVLS below $50M; company has 180 days to comply by Aug 5, 2024; also fails total assets/revenue rule.
- Yorkville prepaid advance increased to $4.5M; additional $1M funded Feb 5 at 0% interest, due June 14, 2024.
- Settled GEM obligations: paid $1.2M cash and issued $1M unsecured note payable in $100K monthly installments through Dec 1, 2024.
- Issued Roth Capital 175,000 shares for advisory fees; may issue up to 600,000 additional shares by June 30, 2024.
- If MVLS not regained, Banzai may transfer listing to Nasdaq Capital Market; delisting risk remains.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000119312524028341/0001193125-24-028341-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000119312524028341/d744391d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-028341

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