Banzai announces agreement to eliminate senior debt

Banzai (BNZI) International announced that senior debt holder CP BF Lending and the Company have executed a payoff and debt conversion agreement for the remaining principal balance of its outstanding senior secured debt, totaling approximately $4.8M. Under the terms of the agreement, the Company will pay off or convert the remaining balance on Columbia Pacific’s senior secured debt into Class A common stock. The agreement includes both the principal amount of the debt and accumulated interest and will result in the elimination of the Company’s debt with Columbia Pacific when completed. Prior to this new agreement, Banzai repaid approximately $5.3M of the Columbia Pacific senior secured debt. The agreement provides a framework that the company believes will result in the elimination of the remaining senior debt ahead of the maturity date, ultimately enhancing Banzai’s balance sheet by reducing outstanding debt and interest obligations. The senior secured debt is currently set to mature in February 2027. Throughout 2025, Banzai has been highly focused on debt elimination initiatives to position the company for greater financial flexibility and long-term growth.