Core Viewpoint - Banzai International, Inc. has completed an $11.0 million debt facility to enhance operational liquidity and support acquisitions and growth initiatives [1][3]. Financing Details - The initial tranche of the financing amounts to $2.2 million, maturing on June 30, 2026, with an interest rate of 10% per annum, secured by the company's assets [2]. - The principal of the Note can be paid in cash or converted into common shares at the holder's discretion at 115% of the common stock price prior to the closing date [2]. Use of Proceeds - The net proceeds from the debt facility will be utilized for working capital, acquisitions, and general corporate purposes to facilitate future growth [3]. Company Overview - Banzai is a marketing technology company that offers AI-enabled marketing and sales solutions, serving over 90,000 customers including notable companies like RBC, Dell Technologies, and New York Life [5].
Banzai Secures New Debt Financing of up to $11.0 Million