Why Is Banzai International (BNZI) Stock Up 25% Today?


  • Banzai International (BNZI) stock is heading higher on Wednesday with heavy trading.
  • This comes after the company closed a public offering.
  • This saw it sell 5,227,780 shares for 18 cents each.
BNZI Stock - Why Is Banzai International (BNZI) Stock Up 25% Today?

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Banzai International (NASDAQ:BNZI) stock is rising higher on Wednesday after the marketing technology company closed a public offering for its shares.

BNZI stock has been slipping the last few days of trading after launching a public offering on May 22, 2024. That saw the company sell 5,227,780 shares priced at 18 cents each.

The offering also included 13,888,890 warrants with an exercise price that matches the offering price. In addition to that, the company sold 8,661,110 pre-funded warrants during the public offering.

Other recent events alongside this offering include a securities purchase agreement tied to the public offering. It also announced an amended debt repayment agreement with Yorkville on certain promissory notes.

BNZI Stock Market Movement Today

With all of this news comes heavy trading for Banzai International on Wednesday. That has more than 37.8 million shares of the stock changing hands as of this writing. This is well above its daily average trading volume of about 953,000 shares.

BNZI stock is up 25.2% as of Wednesday morning. The stock was down 89.1% since the start of the year when markets closed yesterday.

Below, traders can read plenty more stock market stories!

We have all of the hottest stock market news investors need to know about on Wednesday! Among that is what has shares of Reshape Lifesciences (NASDAQ:RSLS) stock up today, the biggest pre-market stock movers this morning and more. All of this news is available at the following links!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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