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Banzai Announces $24.8 Million Debt Payoff and Restructuring Agreements

Sep 24, 2024•over 1 year ago

Contract Type

agreement

Bainbridge IslandEvents

Description

Banzai International, Inc. (NASDAQ: BNZI) announced agreements with lenders and service providers to write off up to $5.6 million of outstanding liabilities and restructure a further $19.2 million of its existing debt obligations, improving the Company's overall financial position. The agreements also include the elimination of approximately $15.3 million of debt via a combination of private placement and debt restructuring, with participation from insiders including Alco Investment Company (“Alco”).

Company Information

Company

Banzai

Location

Bainbridge Island, Washington, United States

About

Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others.

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