secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001493152-24-050891
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai signs acquisition of Vidello for up to $7M; adds $6.5M revenue, $2.3M EBITDA (TTM Sep 2024)
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- Total consideration up to $7M: $5.5M cash + $1.5M in Banzai common stock or pre-funded warrants.
- Vidello adds $6.5M revenue and $2.3M EBITDA for TTM ended Sep 30, 2024 on pro-forma basis.
- Vidello has over 90k customers; flagship CreateStudio is top-3 best rated video maker on Capterra.
- Closing expected Dec 2024; 180-day lock-up for Vidello shareholders; CEO Davy voting support agreement.
- CEO Davy (82.2% voting power) agrees to vote for stockholder approval of warrant issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000149315224050891/0001493152-24-050891-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000149315224050891/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-050891

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer