Banzai signs definitive agreement to acquire Vidello

Banzai (BNZI) International announced that it has signed a definitive agreement to acquire Vidello, a technology provider of video hosting and marketing suite solutions for businesses. Under the terms of the agreement, the aggregate merger consideration shall be up to $5.5M in cash and a number of shares of Banzai Class A Common Stock, and/or Pre-Funded Warrants in lieu thereof, equal to $1.5 million. Additional details regarding the acquisition are included in the Company’s Form 8K filed with the Securities and Exchange Commission on December 20, 2024. The transaction is expected to close in December 2024, subject to the satisfaction of customary closing conditions.