AcquisitionsJul 7, 2026, 05:32 PM
Banzai International Acquires ConnectAndSell for $8.45M
AI Summary
Banzai International, Inc. has entered into an Asset Purchase Agreement to acquire substantially all assets of ConnectAndSell, Inc., a Software-as-a-Service and AI company focused on sales enablement. The initial purchase price is $8.45 million, comprising cash, Class A Common Stock, and a promissory note, with additional deferred cash payments totaling $4.75 million. Concurrently, Banzai secured a $2.1 million subordinated business loan. ConnectAndSell's financial reports reveal recurring losses and negative working capital, raising substantial doubt about its ability to continue as a going concern.
Key Highlights
- Banzai International acquired ConnectAndSell, Inc., a SaaS and AI sales enablement company.
- Initial purchase price for ConnectAndSell is $8.45 million.
- Consideration includes $750,000 cash, $5.9 million in Class A Common Stock, and a $1.8 million promissory note.
- Additional deferred cash payments total $4.75 million ($1.5M first, $3.25M second).
- Banzai secured a $2.1 million subordinated business loan from Agile Capital Funding.
- ConnectAndSell reported a net loss of $(3,111,468) for the year ended December 31, 2025.
- ConnectAndSell reported a net loss of $(518,332) for the three months ended March 31, 2026.
- ConnectAndSell's financial statements indicate substantial doubt about its ability to continue as a going concern.
Price Impact
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