secwatch.observer — SEC 8-K summary
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Issuer:     Banzai International, Inc. (BNZI)
CIK:        0001826011
Form:       8-K
Filed at:   2025-07-03T23:59:59+00:00
Accession:  0001641172-25-017861
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banzai to effect 1-for-10 reverse stock split on July 8; issues $11M senior secured convertible notes
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- Reverse split effective July 8, 2025; pre-split Class A shares: 22,374,739; post-split approx 2,237,474.
- Convertible note offering closed June 30: $11M principal, 10% OID, 10% interest, 18-month maturity; conversion floor $0.11.
- Buyer receives warrants for 671,243 shares at $0.66 exercise price, 3-year term, 4.99% beneficial ownership limit.
- Net proceeds from offering ~$1.725M for general corporate purposes and working capital.
- Financial advisor Rodman & Renshaw receives 212,121 warrants at $0.825, 5-year term, plus cash fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826011/000164117225017861/0001641172-25-017861-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826011/000164117225017861/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-017861

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