04:16 AM EDT, 09/25/2024 (MT Newswires) -- Banzai International ( BNZI ) said Tuesday it has agreed to sell about 1.2 million common shares and warrants to purchase up to 2.4 million shares at a purchase price of $4.25 per share or pre-funded warrants in a private placement worth about $5 million.

The offering is expected to close Thursday.

Banzai said it intends to use net proceeds from the offering to pay off its outstanding credit facility and for general corporate purposes.

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