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)
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