Banzai reduces headcount by 34%, restructures ~$17M debt with CP BF, Alco and others via equity and notes

Banzai International, Inc.

Reduction in force of ~24 employees (34% of FTEs); expected to save ~$1.3M annually; restructuring charges ~$80k.
CP BF converted $2M debt into $2.2M equity (260,849 shares + warrants); remaining $8.76M debt into 15.5% PIK note.
Alco converted $4.71M debt into $5.18M equity (282,420 shares + warrants and pre-funded warrants).
Yorkville debt: principal reduced to $0.7M, floor price set at $2.00, maturity extended to January 2025.
Repayment agreements with Perkins Coie, Cooley, Sidley, and others settled at reduced amounts payable monthly.

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