Banzai Announces Reverse Split to Regain NASDAQ Compliance

Core Viewpoint - Banzai International, Inc. is implementing a one-for-fifty reverse stock split to comply with Nasdaq's minimum average closing share price requirement, effective September 19, 2024 [1][2]. Company Actions - The reverse stock split will consolidate every fifty shares of Class A common stock into one share, maintaining the par value per share [2]. - Post-split, the company will have 916,558 shares of Class A common stock issued and outstanding, with no fractional shares issued; any resulting fractional shares will be rounded up to the nearest whole share [3][4]. Impact on Shareholders - The reverse stock split will uniformly affect all holders of Class A common stock and will not change their percentage interest in the company, except for adjustments due to fractional shares [4]. - Shareholders holding physical share certificates will receive instructions from Continental Stock Transfer & Trust Company regarding the exchange process [5]. Company Overview - Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes, with notable clients including Square, Hewlett Packard Enterprise, and Thermo Fisher Scientific [6].