Banzai Announces Agreement to Eliminate Senior Debt Through Payoff and Equity Conversion

Core Viewpoint - Banzai International, Inc. has executed a payoff and debt conversion agreement that will eliminate approximately $4.8 million of senior secured debt, thereby strengthening its balance sheet [1][2][3] Debt Elimination Agreement - The agreement involves converting the remaining balance of senior secured debt into Class A common stock, which includes both the principal and accumulated interest [2] - Prior to this agreement, Banzai had already repaid around $5.3 million of the senior secured debt, and this new agreement aims to eliminate the remaining debt ahead of its maturity date in February 2027 [3] Financial Strategy and Impact - The debt elimination initiative is part of a broader strategy to enhance financial flexibility and long-term growth for the company [3] - The CEO of Banzai stated that the conversion reflects confidence in the company's vision and will support growth in self-service subscribers, enterprise expansion, and customer retention [4] Company Overview - Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions, serving over 140,000 customers including notable companies like RBC and Dell Technologies [5]