Banzai International Up 96% as Debt Agreements Reduce Near-Term Cash Needs

Dow Jones

2024-09-25

By Josh Beckerman

Banzai International shares surged after the company announced $24.8 million of debt payoff and restructuring agreements.

The stock was recently up 96% to $8.23 on Tuesday and is down about 91% this year.

The marketing technology company said the agreements will reduce total debt, defer principal and interest payments and lower near-term cash needs. Company insiders including Alco Investment are participating in the transactions.

On Friday, Banzai shares rose 98% after a reverse stock split and the filing of a prospectus for potential stock sales by Yorkville Advisors.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

September 24, 2024 12:54 ET (16:54 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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