Core Viewpoint - Banzai International, Inc. will implement a one-for-ten reverse stock split of its Class A and Class B Common Stock effective July 8, 2025, to increase the share price and comply with Nasdaq's Minimum Bid Price Requirement [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will combine every ten shares of outstanding Common Stock into one share, with no change in par value [2]. - Prior to the split, there were 22,374,739 shares of Class A Common Stock and 2,311,134 shares of Class B Common Stock outstanding, which will reduce to approximately 2,237,474 shares of Class A and 231,113 shares of Class B after the split [3]. - No fractional shares will be issued; any resulting fractional shares will be rounded up to the nearest whole share [3][4]. Group 2: Impact on Shareholders - The reverse stock split will uniformly affect all holders of Common Stock and will not alter any shareholder's percentage interest, except for adjustments due to fractional shares [4]. - Shareholders holding certificates will receive information from Continental Stock Transfer & Trust Company regarding the exchange process for their shares [5]. Group 3: Company Overview - Banzai is a marketing technology company providing AI-enabled marketing and sales solutions, serving over 90,000 customers including notable companies like RBC and Dell Technologies [6].
Banzai Announces Reverse Split