Banzai International, Inc. (BNZI): M&A transaction — 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.

item 2.01 item 3.02 item 1.01 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.98

Banzai International, Inc. completed an acquisition involving ClearDoc, Inc. doing business as OpenReel for $19,600,000 (closed 2024-12-18).

Action: acquisition
Counterparty: ClearDoc, Inc. doing business as OpenReel
Consideration: $19,600,000
Closing: 2024-12-18

Exact text from the filing

for one (1) share of Banzai Class A Common Stock at an exercise price of US$0.0001 (the “ Pre-Funded Warrants ”) issued in lieu thereof, in an amount equal to the quotient of $19,600,000 divided by the Conversion Price (as defined in the Merger Agreement) (the “ Merger Consideration ”). The Merger Consideration consisted of an aggregate of 930,558 shares of Banzai

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Banzai International, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-050696

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