Banzai Secures $5 Million in Funding Through Private Placement
Banzai Secures $5 Million in Funding Through Private Placement
In a significant move for financial growth, Banzai International, Inc. (NASDAQ: BNZI), a prominent marketing technology company, has announced a private placement aimed at raising $5 million. This funding will be utilized to bolster their financial capacity and enhance working capital, essential for their growth strategy.
Details of the Private Placement
The company is set to issue 1,176,471 shares of Class A common stock, along with Series A and Series B warrants. The purchase price for this offering is stated at $4.25 per share, reflecting at-the-market pricing under the rules of the Nasdaq Stock Market. Investors will also have the opportunity to purchase short-term Series B warrants, which will have a defined expiry period of 18 months.
Warrant Details
The Series A warrants will be exercisable immediately at an exercise price of $4.00 per share and will remain valid for a five-year period post-issuance. Meanwhile, the Series B warrants will also have the same exercise price but will be focused on short-term investment timelines. This structured offering is designed to appeal to a range of investors looking for opportunities in the tech sector.
The Role of H.C. Wainwright & Co.
H.C. Wainwright & Co. has stepped in as the exclusive placement agent for this offering, assisting Banzai in navigating the complex fundraising landscape. Their expertise will play a vital role in ensuring a successful closing of this transaction, which is anticipated to occur soon, pending customary conditions.
Financial Utilization of the Proceeds
Banzai has articulated its intended use of the net proceeds from this private placement, primarily focusing on repaying its existing credit facility with Yorkville Advisors. This move not only strengthens their balance sheet but also positions Banzai for future expansion initiatives. Furthermore, funds will be allocated for general corporate purposes, ensuring the company maintains a robust operational capacity.
Market Position and customer base
As a leading marketing technology firm, Banzai serves a diverse clientele, including well-known names such as Square and Hewlett Packard Enterprise. This substantial backing from established companies exemplifies the trust and efficacy of Banzai’s offerings. Their loyalty to their clients is reflected in their continued efforts to improve marketing and sales solutions across various industries.
Company Overview
Banzai is dedicated to empowering businesses of all sizes through innovative marketing strategies. Their goal is to facilitate targeted engagement and effective measurement of both new and existing customers. With several high-profile partnerships, Banzai looks to leverage its technology to help more companies flourish in their respective markets.
Investor Outreach
For more detailed insights into Banzai’s strategies and financial performance, stakeholders can reach out to their Executive Vice President, Chris Tyson. He is available at 949-491-8235, or via email at BNZI@mzgroup.us. For further corporate information, interested parties are encouraged to navigate to their investor relations platform.
Frequently Asked Questions
What is the amount raised through the private placement?
Banzai has initiated a private placement to raise approximately $5 million.
Who is the placement agent for this offering?
H.C. Wainwright & Co. is serving as the exclusive placement agent for the private placement.
What will the proceeds from this offering be used for?
The net proceeds will primarily pay down existing credit facilities and fund general corporate needs.
What is the duration of the issued warrants?
The Series A warrants will expire five years after issuance, and Series B warrants will expire after 18 months.
When is the closing expected for this offering?
The closing of the offering is expected around the end of September 2024, pending standard conditions.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- TCL CSOT Showcases Cutting-Edge MicroLED Technology
- Market Movements Ahead: Consumer Spending and Inflation Trends
- Southwest Airlines Launches Major $2.5 Billion Stock Buyback
- Evaluate Alphabet's Future In AI: Investment Insights
- Multitude P.L.C. Calls for Significant Shareholder Meeting
- IonQ Secures $54.5 Million U.S. Air Force Quantum Contract
- Tencent Music Showcases Commitment to Sustainability with ESG
- Vantage Foundation and V&A Solution Create Joyful Learning Event
- Vantage Foundation and V&A Solution Host Enriching Children's Event
- Fire Incident Disrupts Operations at Major Port After Truck Crash
Recent Articles
- Innovative Partnership Enhances Blue Light Protection Standards
- Understanding Luna Innovation's Legal Challenges and Investor Rights
- Exploring the Early Resumes of Steve Jobs and Bill Gates
- Black Mammoth Metals Finalizes Agreement for Gold Properties
- Investigation Revealed: AMMO, Inc. Under Scrutiny Following CFO Exit
- Investigation into Mergers Involving Rafael, Southport, and Manitex
- Gogoro Inc. Faces Investigation Over Possible Securities Violations
- Oil Prices Stabilize Amidst Global Economic Pressures
- Aussie and Kiwi Soar as China Sparks Investor Enthusiasm
- China's Central Bank Takes Action by Reducing Loan Rates
- Investigation Launched into AMMO, Inc. for Investor Concerns
- Connex Triumphs as CCaaS Reseller of the Year at Engage 2024
- New Pacific Metals Enhances Stake with New Annual Report
- Exploring LG Energy Solution's Innovative Brand B.around
- Argentina's Government Plans to Consolidate IMF Negotiations
- Korn Ferry CEO Transitions Shares Amid Positive Market Signals
- Omni Retail Enterprises Sells Significant Stake in Wilhelmina
- The Risky Trend of Uninsurable Houses in Today's Market
- Revolutionizing Comfort: Aircraft Cabin Interiors Market Growth
- Bumble, Inc. Faces Lawsuit: Investors Urged to Seek Counsel
- The Changing Landscape of Consumer Culture in China
- Wayfair Expands Senior Secured Notes Offering to $800 Million
- Nuvve Holding Corp. Shares New Compliance Efforts for Investors
- LG Energy Solution Launches Innovative Brand B.around for BMS
- Omnichannel Communication: Building Seamless Customer Experiences Across Channels
- Edgewise Therapeutics CFO's Stock Sales Usher in Investor Interest
- Edgewise Therapeutics Stock Movement Raises Investor Interest
- Recent Stock Sale by Edgewise Therapeutics CMO Highlights Activity
- Edgewise Therapeutics Looks to Future After Recent Stock Sale
- Edgewise Therapeutics: CSO's Stock Sale Sparks Investor Attention
- OFS Credit Company, Inc. Announces Preferred Stock Pricing
- PDD Holdings Inc. Investors Urged to Act Before Class Action Deadline
- Cybersecurity Incident at Altman Specialty Plants: Key Updates
- Rosen Law Firm Urges Paragon 28 Investors to Act Now
- U.S. BioTech Leaders Join Forces for Innovation in the UAE
- Cathie Wood's ARK ETFs Showcase Strategic Stock Adjustments
- Japanese Service Prices Show Consistent Growth Amid Inflation Trends
- Asia's Economic Growth Forecast Remains Stable Amid Challenges
- Country Garden Services Strategically Divests Stake in Zhuhai Wanda
- Costco vs. Target: Which Retail Giant Is the Top Investment?
- WIPPY's Entry into Japan: A New Era for Social Discovery Apps
- Understanding Your Rights: DexCom Class Action Insights
- Exploring Travel Trends for Golden Week: Beyond Capitals
- Brian Obney Joins Lightstone Solutions as Chief of Staff
- Market Reactions: Nvidia Surges, Wall Street Hits New Highs
- Palantir Technologies Adjusts Stake in Surf Air Mobility Shares
- Zscaler Director Sells $1.39 Million in Shares: What It Means
- Key Developments at Ligand Pharmaceuticals Following CFO Sale
- Ligand Pharmaceuticals Sees Executive Stock Moves Amid Growth
- Palomar Holdings CEO Makes Strategic Stock Move Amid Growth