SEATTLE, Sept. 24, 2024 (GLOBE NEWSWIRE) — Banzai Worldwide, Inc. (NASDAQ: BNZI) (Banzai or the Firm), a number one advertising expertise firm that gives important advertising and gross sales options, at present introduced that it has entered into definitive agreements for the issuance and sale of an combination of 1,176,471 shares of Class A typical inventory (or pre-funded warrant in lieu thereof), accompanying Collection A warrants to buy as much as 1,176,471 shares of Class A typical inventory and accompanying short-term Collection B warrants to buy as much as 1,176,471 shares of Class A typical inventory at a purchase order value of $4.25 per share (or per pre-funded warrant in lieu thereof) and accompanying warrants in a personal placement priced at-the-market beneath the foundations of the Nasdaq Inventory Market. The Collection A and the short-term Collection B warrants may have an train value of $4.00 per share and will likely be exercisable instantly upon issuance. The Collection A warrants will expire 5 years from the issuance date and the short-term Collection B warrants will expire 18 months from the issuance date. The closing of the providing is predicted to happen on or about September 26, 2024, topic to the satisfaction of customary closing circumstances.
H.C. Wainwright & Co. is appearing because the unique placement agent for the providing.
The gross proceeds from the providing are anticipated to be roughly $5 million, previous to deducting placement agent’s charges and different providing bills payable by the Firm. Banzai intends to make use of the online proceeds from the providing to repay in full its excellent credit score facility with Yorkville Advisors and for working capital and different normal company functions.
The securities described above are being provided in a personal placement beneath Part 4(a)(2) of the Securities Act of 1933, as amended (the Securities Act), and/or Regulation D promulgated thereunder and, together with the shares of Class A typical inventory underlying the warrants, haven’t been registered beneath the Securities Act, or relevant state securities legal guidelines. Accordingly, the warrants and underlying shares of Class A typical inventory will not be provided or bought in america besides pursuant to an efficient registration assertion or an relevant exemption from the registration necessities of the Securities Act and such relevant state securities legal guidelines. Pursuant to a registration rights settlement with buyers, the Firm has agreed to file a resale registration assertion protecting the securities described above.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or different jurisdiction wherein such supply, solicitation or sale could be illegal previous to the registration or qualification beneath the securities legal guidelines of any such state or different jurisdiction.
About Banzai
Banzai is a advertising expertise firm that gives important advertising and gross sales options for companies of all sizes. On a mission to assist their prospects obtain their mission, Banzai allows firms of all sizes to focus on, interact, and measure each new and current prospects extra successfully. Banzai prospects embrace Sq., Hewlett Packard Enterprise (NYSE:), Thermo Fisher Scientific (NYSE:), Thinkific, Doodle and ActiveCampaign, amongst hundreds of others. Study extra at www.banzai.io. For buyers, please go to https://ir.banzai.io.
Ahead-Trying Statements
This press launch comprises forward-looking statements inside the that means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements usually use phrases akin to imagine, could, will, estimate, goal, proceed, anticipate, intend, anticipate, ought to, would, suggest, plan, challenge, forecast, predict, potential, search, future, outlook, and comparable variations and expressions. Ahead-looking statements are these that don’t relate strictly to historic or present information. Examples of forward-looking statements could embrace, amongst others, statements concerning Banzai Worldwide, Inc.’s (the Firm’s): potential to consummation of the non-public placement, the satisfaction of the closing circumstances of the non-public placement and the usage of proceeds therefrom in addition to future monetary, enterprise and working efficiency and targets; annualized recurring income and buyer retention; ongoing, future or potential to take care of or enhance its monetary place, money flows, and liquidity and its anticipated monetary wants; potential financing and talent to acquire financing; acquisition technique and proposed acquisitions and, if accomplished, their potential success and monetary contributions; technique and strategic targets, together with having the ability to capitalize on alternatives; expectations referring to the Firm’s business, outlook and market traits; whole addressable market and serviceable addressable market and associated projections; plans, methods and expectations for retaining current or buying new prospects, growing income and executing development initiatives; and product areas of focus and extra merchandise which may be bought sooner or later. As a result of forward-looking statements relate to the longer term, they’re topic to inherent uncertainties, dangers and adjustments in circumstances which might be tough to foretell and lots of of that are outdoors of our management. Ahead-looking statements are usually not ensures of future efficiency, and our precise outcomes of operations, monetary situation and liquidity and growth of the business wherein the Firm operates could differ materially from these made in or urged by the forward-looking statements. Subsequently, buyers shouldn’t depend on any of those forward-looking statements. Elements which will trigger precise outcomes to vary materially embrace adjustments within the markets wherein the Firm operates, buyer demand, the monetary markets, financial, enterprise and regulatory and different components, such because the Firm’s potential to execute on its technique. Extra detailed details about danger components will be discovered within the Firm’s Annual Report on Type 10-Okay and the Firm’s Quarterly Reviews on Type 10-Q beneath the heading Threat Elements, and in different stories filed by the Firm, together with stories on Type 8-Okay. The Firm doesn’t undertake any responsibility to replace forward-looking statements after the date of this press launch, besides as required by legislation.
Investor Contacts:
Chris Tyson
Govt Vice President
MZ Group – MZ North America
949-491-8235
BNZI@mzgroup.us
www.mzgroup.us
Media
Rachel Meyrowitz
Director, Demand Era, Banzai
rachel.meyrowitz@banzai.io
