Banzai International Closes $5 Million Stock, Warrant Offering
Banzai International (BNZI) said late Thursday it closed a private placement of up to about 1.2 million class A common shares and accompanying warrants priced at $4.25 per share for total gross proceeds of $5 million.
The offering includes accompanying series A warrants to purchase up to 1.2 million common shares and short-term series B warrants to purchase 1.2 million common shares. The company also issued pre-funded warrants in lieu of common shares.
The warrants are exercisable at a price of $4 per share.
The series A warrants are valid for five years, while the series B warrants are valid for 18 months.
The company used the net proceeds to repay in full the company's outstanding credit facility with Yorkville Advisors and also plans to use the net proceeds for working capital and general corporate purposes.
Price: 5.91, Change: -0.17, Percent Change: -2.80
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