secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2025-01-31T23:59:59+00:00
Accession:  0001493152-25-004502
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai closes Vidello acquisition, issues $3.5M convertible note with YA II PN
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- Closed acquisition of Vidello Limited on Jan 31, 2025 for $2.745M cash ($2.5M held back for indemnification) and 898,204 shares of Class A common stock.
- Convertible note for $3.5M with YA II PN: 0% interest first 90 days then 6%, convertible at $2.00/share, matures July 31, 2025.
- Vidello becomes wholly owned subsidiary; Joseph Davy appointed sole director of Vidello.
- Company believes stockholders' equity now exceeds $2.5M Nasdaq minimum, but no assurance of regaining compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000149315225004502/0001493152-25-004502-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000149315225004502/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-004502

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