Banzai International, Inc. demonstrates compliance with Nasdaq's equity requirements, ensuring continued listing on the Nasdaq Capital Market.
Quiver AI Summary
Banzai International, Inc. announced that it has regained compliance with Nasdaq's minimum stockholders’ equity requirement, allowing its continued listing on The Nasdaq Capital Market under the ticker BNZI. This follows a notification from Nasdaq regarding non-compliance due to low market value, which led Banzai to seek a hearing and request a transition to the Capital Market. The compliance was achieved after Banzai's acquisition of Vidello Limited on January 31, 2025, which bolstered its financial standing. Banzai provides AI-enabled marketing and sales solutions, serving a range of clients including Cisco and New York Life.
Potential Positives
- Banzai International has demonstrated compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1), allowing its securities to continue trading on The Nasdaq Capital Market.
- The confirmation of compliance follows the successful completion of the acquisition of Vidello Limited, indicating potential growth and strengthening of the company's financial position.
- The Company successfully transitioned to The Nasdaq Capital Market from the Global Market, showcasing its proactive management in addressing listing requirements and its commitment to maintain investor confidence.
- Notable customers include major brands such as Cisco and Hewlett Packard Enterprise, highlighting Banzai's established reputation within the marketing technology sector.
Potential Negatives
- The notification from Nasdaq indicates that the company had previously fallen below the minimum stockholders' equity requirement, raising concerns about its financial health.
- The need to request a hearing and phase-down to The Nasdaq Capital Market suggests that Banzai was struggling to meet the standards required for continued listing, which may affect investor confidence.
- The press release emphasizes compliance obtained through an acquisition, potentially highlighting reliance on external factors rather than organic growth.
FAQ
What recent compliance notification did Banzai receive from Nasdaq?
Banzai received a notification confirming its compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1).
What was the reason for Banzai's hearing before the Nasdaq panel?
Banzai requested a hearing after its market value of listed securities fell below the Nasdaq Global Market's minimum requirement.
How did Banzai regain compliance with Nasdaq requirements?
Banzai regained compliance following its acquisition of Vidello Limited and filed a Form 8-K showing compliance with the equity requirement.
Where will Banzai's stock continue to be traded?
Banzai's stock will continue to be traded on The Nasdaq Capital Market under the trading symbol BNZI.
What type of solutions does Banzai provide?
Banzai provides AI-enabled marketing and sales solutions that help businesses target, engage, and measure customer interactions effectively.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BNZI Insider Trading Activity
$BNZI insiders have traded $BNZI stock on the open market 7 times in the past 6 months. Of those trades, 1 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $BNZI stock by insiders over the last 6 months:
- BF LENDING, LLC CP has made 0 purchases and 6 sales selling 691,149 shares for an estimated $2,825,277.
- INVESTMENT CO ALCO purchased 282,420 shares for an estimated $1,098,613
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$BNZI Hedge Fund Activity
We have seen 3 institutional investors add shares of $BNZI stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CERCANO MANAGEMENT LLC removed 105,412 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $523,897
- BRIGHTON JONES LLC removed 98,492 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $489,505
- GEODE CAPITAL MANAGEMENT, LLC removed 88,583 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $440,257
- ATLAS MERCHANT CAPITAL LLC removed 41,250 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $205,012
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 38,034 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $189,028
- CORIENT PRIVATE WEALTH LLC removed 30,000 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $149,100
- CANTOR FITZGERALD, L. P. added 22,279 shares (+inf%) to their portfolio in Q3 2024, for an estimated $110,726
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SEATTLE, Feb. 13, 2025 (GLOBE NEWSWIRE) --
Banzai International, Inc.
(Nasdaq: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced that it has received a notification letter from the Hearings Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has demonstrated compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1). The Company’s securities will therefore continue to be listed and traded on The Nasdaq Capital Market.
Banzai previously received a notification letter from the Nasdaq Listing Qualifications Department on August 6, 2024, notifying the Company that its market value of listed securities was below the minimum requirement for continued listing on The Nasdaq Global Market, as outlined in Nasdaq Listing Rule 5450(b)(2)(A). As a result, the Company requested a hearing before a Nasdaq Hearings Panel (the “Panel”). At the hearing, the Company requested a phase-down to The Nasdaq Capital Market. The Panel granted the Company’s request for a phase-down pursuant to an exception to the stockholders’ equity requirement on that market.
Following the Company's recent acquisition of Vidello Limited, which closed on January 31 2025, the Company filed a Form 8-K with the Securities and Exchange Commission, on January 31, 2025, demonstrating that it had regained compliance with the stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. As a result, the Panel determined that the Company had achieved compliance with the stockholders’ equity requirement and determined to close the Nasdaq compliance review. The Company will continue to be traded on The Nasdaq Capital Market under the trading symbol BNZI.
About Banzai
Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Cisco, New York Life, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at
www.banzai.io
. For investors, please visit
https://ir.banzai.io
.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
BNZI@mzgroup.us
www.mzgroup.us
Media
Rachel Meyrowitz
Director, Demand Generation, Banzai
media@banzai.io
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
