Banzai merger with Act-On terminated; company owes $1.38M in fees

Banzai International, Inc.

Act-On terminated the merger agreement on June 6, 2025, citing market conditions.
Banzai must pay $500,000 in liquidated damages for Act-On transaction expenses.
Banzai must also pay $882,029.82 in interest and extension fees on Act-On debt.
Merger agreement originally announced January 22, 2025.
Tickers: BNZI (common stock) and BNZIW (warrants) on Nasdaq.

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