Banzai Announces Institutional Investor Increases Direct Equity Stake to 18.7% Following Exercise of Warrants

Core Viewpoint - The exercise of Pre-Funded Warrants by an institutional investor reflects confidence in Banzai International, Inc.'s long-term strategy and growth potential [3][4]. Group 1: Transaction Details - Banzai International, Inc. issued 1,176,628 shares of Class A Common Stock to an institutional investor following the full exercise of Pre-Funded Warrants acquired during the ClearDoc, Inc. acquisition [1]. - The institutional investor received 49,996 shares of Class A Common Stock and 1,176,950 Pre-Funded Warrants with an exercise price of $0.001 per share as part of the acquisition [2]. - The investor net exercised all Pre-Funded Warrants on a cashless basis, increasing their beneficial ownership to approximately 18.7% of the Company's outstanding Class A Common Stock [3]. Group 2: Company Overview - Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes, aiming to help customers grow by effectively targeting, engaging, and measuring both new and existing customers [4]. - The company has over 140,000 customers, including notable names such as RBC, Dell Technologies, and New York Life [4].