Banzai reduces warrant exercise price to $2.50 in exchange for waiver of protective provisions for OpenReel merger

Banzai International, Inc.

On Dec 10, 2024, Banzai entered merger agreement with OpenReel (ClearDoc, Inc.) to issue shares to OpenReel stockholders.
Institutional investor waived protective provisions that restricted share issuances for 60 days after Nov 6, 2024 effective date.
Banzai agreed to reduce exercise price of Series A and B warrants from $4.00 to $2.50 per share as consideration for the waiver.
Each warrant series (A & B) covers up to 1,176,471 shares; combined purchase price in Sept 2024 private placement was $4.249 per unit.

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