Banzai announces effectiveness of Form S-1 registration statement

Banzai International announced that the Securities and Exchange Commission has declared the Company’s registration statement on Form S-1 effective as of 5:00 PM ET on February 14, 2024. The effectiveness of the S-1 brings Banzai one step closer to accessing capital under the Yorkville Advisors Standby Equity Purchase Agreement, which provides the Company the option to sell to Yorkville up to $100 million of Banzai’s shares of Class A common stock. The completion and timing of any sales under the SEPA will be subject to satisfaction or waiver of the requirement to repay pre-paid advances issued under the SEPA, as well as satisfaction of the other terms and conditions of the agreement, as previously disclosed in Banzai’s Current Reports on Form 8-K filed with the Securities and Exchange Commission on December 18, 2023 and February 8, 2024.