Banzai International (BNZI) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Banzai Operating Co LLC has entered into financial agreements with Yorkville Advisors and GEM Global to secure funding through advances and promissory notes, totaling $4.5 million and $1.0 million respectively. Yorkville’s convertible promissory note may lead to the issuance of Class A Common Stock, while GEM’s note includes a settlement of prior obligations and monthly cash installments. Additionally, the company settled advisory fees with Roth Capital Partners by issuing shares and promising future cash or stock payments. These strategic financial moves aim to bolster Banzai’s market position and provide liquidity for growth.
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For a comprehensive understanding of the announcement, you can read the full document here.
