Banzai prices 13.9M shares at 18c in public offering

Banzai International announced the pricing of its public offering of 13,888,890 shares of common stock and warrants to purchase up to 13,888,890 shares of common stock at a combined public offering price of $0.18 per share and accompanying warrant for aggregate gross proceeds of approximately $2.5 million, before deducting placement agent fees and other offering expenses. The warrants will have an exercise price of $0.18 per share, will be exercisable immediately and will expire five years from the issuance date. The closing of the offering is expected to occur on or about May 28, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to pay off a portion of the currently outstanding promissory notes, and for general corporate purposes, including working capital, operating expenses and capital expenditures. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.