Banzai announces exercise of 1.05M warrants purchased at $3.89 each

Banzai (BNZI) International has issued 1,048,920 shares of common stock to Alco Investment Company, pursuant to an exercise notice for Pre-Funded Warrants received on September 20, 2024 for a purchase price of $3.89. On September 20, 2024, the Company completed a private placement of securities pursuant to which Alco acquired 282,420 shares of Class A Common Stock for a purchase price of $3.89 per share, Pre-Funded Warrants to purchase up to 1,048,920 shares of Class A Common Stock with an exercise price of $0.0001 per share for a purchase price of $3.89 per Pre-Funded Warrant, and Common Warrants to purchase up to 1,331,340 shares of Class A Common Stock with an exercise price of $4.02 per share. Alco has not sold any shares issued under the private placement. All Pre-Funded Warrants were net exercised on a cashless basis, resulting in a total number of Class A common shares outstanding of 14,470,727 as of April 21, 2025. Following the exercise, Alco will own 9.5% of the Company’s Class A Common Stock.