Banzai secures debt financing up to $11M

Banzai (BNZI) International announced the completion of an $11M debt facility with an institutional investor to support acquisitions and ongoing operations. The financing includes an initial tranche of $2.2M, which matures on June 30, 2026, bears interest at 10% per annum, and is secured by the Company’s assets. The principal amount of the Note is payable in cash or convertible in whole or in part into common shares at the holder’s discretion at 115% of the price of the common stock immediately preceding the Closing Date. The company has the right to draw subsequent tranches, provided that certain conditions are met or waived. Banzai intends to use the net proceeds from the facility for working capital, acquisitions, and general corporate purposes to support its future growth. Rodman & Renshaw acted as Exclusive Financial Advisor to Banzai.