Opening the filing
8-K
Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
Banzai International, Inc. (the "Company") entered into a Repurchase Agreement with an institutional investor (the “Investor”), on October 20, 2026 (the “Repurchase Agreement”), pursuant to which, upon the closing of a public offering (the “Offering”), the Company shall repurchase certain common stock purchase warrants that allow the Investor to purchase up to 1,662,862 shares of the Company’s common stock (the “Existing Warrants”), par value $0.0001 per share (the “Common Stock”), for $1.5 million in cash (the “Warrant Repurchase Price”). Upon payment of the Warrant Repurchase Price, the Existing Warrants shall be cancelled and be of no further force or effect.
Previously, on June 27, 2025, the Company and the Investor entered into that certain Securities Purchase Agreement, (as amended, supplemented or otherwise modified from time to time, the “Securities Purchase Agreement”), pursuant to which, among other things, the Company issued to the Investor: (i) a senior secured convertible note, dated August 12, 2026, (the “Existing Note”) and (ii) the Existing Warrants, which have a current exercise price equal to $1.245 per share.
Pursuant to the Repurchase Agreement, the Investor has a right to participate in the Offering in an amount not less than $6 million, or such lesser amount as the Company may specify, subject to the procedures and conditions in the Repurchase Agreement. Additionally, the Investor agreed to a standstill period regarding the Existing Note for a period of eighteen trading days commencing on, and including, the date of the public filing of the registration statement for the Offering and to waive certain provisions included in the Securities Purchase Agreement and the Existing Note.
The Company agreed to pay the Investor’s legal fees of $20,000 associated with the drafting and negotiation of the Repurchase Agreement.
The foregoing description of the Repurchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Repurchase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.