Banzai Granted Extension by Nasdaq Hearing Panel to Regain Compliance with Continued Listing Requirements
2024年10月2日 - 9:31PM
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
received notice from the Nasdaq Listing Qualifications Panel (the
“Hearings Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) that
the Hearings Panel has granted the Company’s request to continue
its listing on The Nasdaq Stock Market, subject to the Company
meeting certain conditions, including filing on or before October
7, 2024, an application for listing on The Nasdaq Capital Market,
and demonstrating compliance on or before January 31, 2025 with
Listing Rules 5550(a)(2), 5550(a)(5) and 5550(b)(1).
The Company is in violation of the bid price
requirement of Nasdaq Listing Rule 5450(a)(1) (the “Bid Price
Rule”) and the market value of listed securities (“MVLS”)
requirement in Listing Rule 5450(b)(2)(A) (the “MVLS Rule”).
“We believe the extension granted by the Nasdaq
Hearings Panel will allow us to finish executing on our plan to
regain compliance with Nasdaq’s requirements,” said Joe Davy, CEO
of Banzai. “We expect the Company will cure the bid price and
market value of listed shares deficiencies within the required time
frame. We are undertaking substantial steps in an effort to
recapitalize the balance sheet, add liquidity, and set up the
Company to deliver long term value to our shareholders.”
Notwithstanding the foregoing, there can be no
assurance that the Company will be able to meet the deadlines or
conditions imposed by the Hearings Panel or regain compliance with
all applicable requirements for continued listing.
About Banzai
Banzai is a marketing technology company that
provides essential marketing and sales solutions for businesses of
all sizes. On a mission to help their customers achieve their
mission, Banzai enables companies of all sizes to target, engage,
and measure both new and existing customers more effectively.
Banzai customers include Square, 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 TysonExecutive Vice
PresidentMZ Group - MZ North America949-491-8235BNZI@mzgroup.us
www.mzgroup.us
MediaRachel MeyrowitzDirector, Demand
Generation, Banzairachel.meyrowitz@banzai.io
Banzai (NASDAQ:BNZI)
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から 12 2023 まで 12 2024