Banzai acquires Vidello for $2.745M cash and 898K shares; Vidello FY2024 revenue $5.5M, net income $1.5M

Banzai International, Inc.

Vidello FY2024 (Mar 31) revenue $5.51M vs $3.46M prior year; net income $1.53M vs $572K.
Unaudited Dec 31, 2024 YTD revenue $3.98M, net income $893K; cash dropped to $586K from $1.16M.
Total consideration: $2.745M cash (of which $2.5M held back for indemnification) and 898,204 shares of BNZI Class A common stock.
Vidello shareholders subject to 180-day lock-up on BNZI shares received.
Vidello had $502K deferred revenue at Mar 31, 2024; tax payables of $510K.

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