7GC & Co. Holdings and Banzai International today announced the closing of their business combination.
Banzai stock and warrants began trading today on the Nasdaq under the ticker symbols BNZI and BNZIW.
The deal was approved by 7GC stockholders Dec. 13.
Banzai is a marketing technology company.
The SPAC sustained 99.5% redemptions since its $200 million IPO nearly three years ago. 7GC in an 8-K said 3,207,428 shares were redeemed ahead of the merger vote for approximately $34.5 million.
To help shore up its finances, 7GC earlier this week announced a non-binding term sheet for a $100 million standby equity commitment from Yorkshire Adviswers Global. Yorkshire would buy stock up to that amount following the Banzai closing. Read more.
