secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2026-09-11T21:15:18+00:00
Accession:  0001493152-26-042422
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai raises $1.5M via convertible note with warrants; up to $3.57M total
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- $2.14M initial convertible note, 30% OID, 10% interest, matures June 4, 2027; conversion at $2.75/share.
- Initial closing $1.5M; two $500k tranches tied to Form S-1 filings increase note principal to $3.57M.
- Warrants for 779,221 shares at $2.75, immediately exercisable, 5-year term, cashless at expiry.
- Stockholder approval sought by Nov 3, 2026 for issuance >20% of shares and warrant repricing.
- 90-day lock-up for directors, officers, and 10%+ holders; defaults trigger 20% note increase and 18% interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000149315226042422/0001493152-26-042422-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000149315226042422/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-042422

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