Banzai International (BNZI, Financial) has expanded its Class A common stock through a recent stock issuance, following a strategic move with Alco Investment Company. On September 20, 2024, Alco executed its rights to acquire 1,048,920 shares via Pre-Funded Warrants, with each share carrying an acquisition price of $3.89.
This transaction coincides with a private placement event dated September 20, 2024, during which Alco procured 282,420 shares of Class A Common Stock at the same price per share. Additionally, Alco received Pre-Funded Warrants allowing them to purchase up to 1,048,920 shares at a nominal exercise price of $0.0001 per share, alongside acquiring Common Warrants for an additional 1,331,340 shares with a slightly higher exercise price of $4.02 per share.
Notably, Alco has opted not to sell any of the shares obtained through this private placement. The Pre-Funded Warrants underwent a cashless net exercise, contributing to a revised total of 14,470,727 outstanding Class A common shares as of April 21, 2025. Post-exercise, Alco now holds ownership of 9.5% of Banzai's Class A Common Stock, marking a significant increase in their investment stake in the company.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Banzai International Inc (BNZI, Financial) is $17.00 with a high estimate of $30.00 and a low estimate of $4.00. The average target implies an upside of 1,608.54% from the current price of $1.00. More detailed estimate data can be found on the Banzai International Inc (BNZI) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Banzai International Inc's (BNZI, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
