secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K/A
Filed at:   2025-02-03T23:59:59+00:00
Accession:  0001493152-25-004641
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai enters $3.5M convertible note at $2.00/share, 10% OID, with YA II PN
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- Principal $3.5M; 10% original issue discount (net proceeds ~$3.15M); received Jan 31, 2025.
- Conversion price $2.00 per share; interest 0% first 90 days then 6% (18% on default).
- Maturity July 31, 2025; installment payments: $1.5M on Feb 28 & Mar 31, $500k on Apr 30, plus 4% premium and accrued interest.
- Optional redemption by company allowed only if VWAP below conversion price, with 10 trading days' notice and 4% premium.
- Issued under existing SEPA; registration rights granted to holder for resale of underlying shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000149315225004641/0001493152-25-004641-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000149315225004641/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-004641

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