other material
confidence high
sentiment neutral
materiality 0.60
Banzai closes $5M private placement; pays off Yorkville credit facility
Banzai International, Inc.
- Gross proceeds ~$5M; net proceeds ~$4.4M after fees and expenses.
- Issued 1,176,471 pre-funded warrants and Series A/B warrants (exercise $4.00, terms 5 yr/18 mo).
- Net proceeds used to fully repay outstanding Yorkville Advisors credit facility and for working capital.
- Placement agent H.C. Wainwright received 7.5% cash fee and placement agent warrants for 88,235 shares.
- Company agreed to file resale registration statement within 10 days under registration rights agreement.