Banzai International (BNZI) said Thursday it has completed its previously announced $19.6 million acquisition of digital video creation platform OpenReel.
Following this acquisition, Banzai said it now expects to surpass its earlier revenue outlook of $10 million for fiscal year 2024.
The merger consideration consisted of 930,558 Class A common shares and roughly 11.8 million pre-funded warrants, the company added.
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