Banzai International, Inc.

Banzai International, Inc. has completed multiple closings of a private placement for senior secured convertible notes and warrants. The company issued approximately $10.33 million in convertible notes and associated warrants across five separate closings between June 2025 and August 2026. These notes are convertible into common stock, and the warrants allow for the purchase of additional common stock.

Banzai International, Inc. announced its Board of Directors has approved a proposal to change the company's corporate name to "Parabolic Technologies, Inc." and its ticker symbol to "PARA" on the Nasdaq Capital Market, pending shareholder approval. This rebranding reflects a strategic shift towards focusing on AI-driven agentic applications and related businesses. The company also unveiled a new business unit structure comprising ConnectAndSell, Banzai (operating Demio and OpenReel), and CreateStudio, aligning with its evolved vision for strategic growth.

Banzai International, Inc. announced that Demio co-founders David Abrams and Wyatt Jozwowski are re-joining the company to lead its CreateStudio business unit. Mr. Abrams will serve as General Manager and Mr. Jozwowski as Vice President of Product for CreateStudio. The company expects their combined leadership, vision, and expertise to be crucial as CreateStudio navigates the future of AI video.

Banzai International, Inc. announced the closing of its public offering, generating approximately $0.9 million in gross proceeds. The company sold 327,273 shares of common stock at $2.75 per share, with Aegis Capital Corp. acting as the sole book-running manager. Aegis was also granted a 45-day option to purchase an additional 36,364 shares. Banzai intends to use the net proceeds for general corporate purposes, including increasing working capital, reducing indebtedness, and investing in products or technologies.

Banzai International, Inc. announced the closing of its previously announced underwritten public offering, generating gross proceeds of approximately $0.9 million before deducting underwriting fees and other expenses. The offering consisted of the sale of 327,273 shares of Class A common stock at a public offering price of $2.75 per share. The company intends to use the net proceeds from the offering for working capital and other general corporate purposes.

Banzai International, Inc. announced the pricing of a firm commitment underwritten public offering. The offering consists of 327,273 shares of Class A common stock at a public offering price of $2.75 per share, expecting to generate approximately $0.9 million in gross proceeds. The net proceeds from the offering are intended for working capital and other general corporate purposes. Aegis Capital Corp. is acting as the Sole Bookrunner and has been granted an option to purchase additional shares to cover over-allotments.

Banzai International, Inc. announced the commencement of an underwritten public offering of its Class A common stock, or pre-funded warrants, totaling approximately $1 million. This amount represents the maximum market value allowed under "baby shelf" rules for its effective Form S-3 registration statement. The company intends to use the net proceeds for working capital and other general corporate purposes. Aegis Capital Corp. is serving as the sole book-running manager for the offering.

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.

Banzai International, Inc. announced the completion of its acquisition of ConnectAndSell, Inc., an AI sales acceleration platform, effective July 2, 2026. The total purchase consideration was $13.2 million, comprising cash, a seller's note, and stock/warrants. This acquisition is expected to expand Banzai's platform capabilities, enhance revenue generation, and create cross-sell opportunities, with ConnectAndSell's FY 2025 revenue at $14.7 million and an 86% gross margin.

Banzai International, Inc. announced an operating cost reduction initiative projected to improve operating profits by $5.5 million on an annualized basis. These management-led actions, including consultant and professional service reductions, financial system centralization, and selective headcount cuts, are expected to decrease operating cash burn by approximately 40% without impacting planned revenue growth or customer service. Most actions are already implemented, with full impact anticipated in the third quarter's monthly operating expense run rate.