Brief: Banzai To Become Publicly Traded Company In Deal With Blank Check Co 7GC

Parabolic Technologies

08/12/2022 13:51

Dec 8 (Reuters) - 7GC & Holdings Co Inc  VII.O :
    * BANZAI, A LEADING END-TO-END VIDEO ENGAGEMENT PLATFORM, TO
BECOME A PUBLICLY TRADED COMPANY VIA BUSINESS COMBINATION WITH
7GC & CO. HOLDINGS INC.
    * 7GC & HOLDINGS - ESTIMATED POST-TRANSACTION ENTERPRISE
VALUE OF
$380 MILLION WITH ABOUT $207 MILLION IN NET CASH, ASSUMING NO
REDEMPTIONS OF VII PUBLIC SHARES
    * 7GC & HOLDINGS CO INC - COMMITTED EQUITY FACILITY OF $100
MILLION FROM GEM TO SUPPORT COMBINED COMPANY POST-CLOSE
    * 7GC & HOLDINGS - UPON CLOSING OF PROPOSED DEAL, COMBINED
CO WILL
BE NAMED BANZAI INTERNATIONAL, INC. AND IS EXPECTED TO TRADE ON
NASDAQ CAPITAL MARKET
    * 7GC & HOLDINGS - IMMEDIATELY PRIOR TO CLOSING OF PROPOSED
DEAL
BETWEEN BANZAI & CO, BANZAI TO BUY HYROS FOR ABOUT $110 MILLION
IN PRIMARILY STOCK DEAL
    * 7GC & HOLDINGS - CURRENT BANZAI MANAGEMENT, EMPLOYEES,
EXISTING
SHAREHOLDERS TO ROLL 100% OF EXISTING EQUITY HOLDINGS INTO
EQUITY OF COMBINED CO

Source text for Eikon:  ID:nGNX4rRbwM 
Further company coverage:  VII.O 
 ((Reuters.Briefs@thomsonreuters.com;))