secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2022-12-08T23:59:59+00:00
Accession:  0001213900-22-078344
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

7GC & Co. Holdings to merge with Banzai International at ~$380M enterprise value
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- Pro forma enterprise value ~$380M; Banzai security holders receive ~$293M in 7GC stock, subject to adjustments.
- Earn-out of up to 5.85M shares vesting if stock hits $12, $14, or $16 within 60 months post-close.
- Closing conditioned on 7GC stockholder approval, HSR clearance, net tangible assets ≥$5M, and Hyros acquisition.
- Hyros acquisition for ~$110M plus revenue-based earnout; post-close redemption option up to ~$86.9M cash.
- Sponsor support agreement locks up votes; deal must close by June 8, 2023, or may be terminated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000121390022078344/0001213900-22-078344-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000121390022078344/ea169690-8k425_7gcandco.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-078344

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