Banzai International, Inc. (PARA) entered into a Repurchase Agreement on October 20, 2026, with an institutional investor to buy back outstanding stock warrants. The repurchase is for $1.5 million in cash and is contingent on the closing of a planned public offering by the company.
Key Details
- Warrant Repurchase: The agreement covers warrants to purchase up to 1,662,862 shares of common stock at an exercise price of $1.245 per share. These will be cancelled upon the $1.5 million payment.
- Investor Offering Rights: The investor has been granted the right to participate in the company's upcoming public offering for an amount not less than $6 million.
- Standstill & Waivers: The investor agreed to an 18-trading-day standstill on converting an existing senior secured convertible note and waived certain provisions of prior agreements. PARA will pay $20,000 for the investor's legal fees.