Banzai completes OpenReel acquisition for $19.6M, expects to exceed $10M FY2024 revenue guidance

Banzai International, Inc.

Closed Dec 18, 2024; total consideration $19.6M via 930,558 Class A shares and 11,769,501 pre-funded warrants.
Banzai expects to exceed top end of previously disclosed $10.0M revenue guidance for fiscal 2024.
OpenReel's enterprise customers include Bristol Myers Squibb, Ingram Micro, DXC Technology, and US Steel.
Joseph Davy appointed sole director and president of surviving entity; Alvin Yip as secretary and treasurer.

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