Banzai International to rename, execute 1-for-10 reverse split

Banzai International, Inc. (NASDAQ: PARA) will change its corporate name to Parabolic Technologies, Inc. and implement a one-for-ten reverse stock split effective at market open on October 27, 2026. Shareholders approved both actions at a special meeting held on October 16, 2026.

The reverse split is intended to increase the per share price of the Class A Common Stock and maintain compliance with the Nasdaq Minimum Bid Price Requirement, although the company notes that neither outcome is guaranteed. Upon effectiveness, every ten shares of issued and outstanding Class A and Class B Common Stock held before the open of business on October 27, 2026, will be combined into one share. The par value per share will remain unchanged.

As of October 21, 2026, the company had 5,061,208 shares of Class A Common Stock and 149,821 shares of Class B Common Stock outstanding. Following the split, these figures are expected to be approximately 506,121 shares of Class A Common Stock and 14,983 shares of Class B Common Stock. No fractional shares will be issued; any resulting fractional interests will be rounded up to the nearest whole share.

The Class A Common Stock will continue to trade on Nasdaq under the ticker symbol PARA but will do so on a post-split basis under a new CUSIP number, 06682J803. The reverse split will affect all issued and outstanding shares as well as the number of shares available for issuance under existing stock options and warrants. Correspondingly, the aggregate exercise prices of outstanding options and warrants will increase. The action will affect all holders uniformly and will not alter any shareholder's percentage interest in the company, except for adjustments related to fractional share rounding.

Shareholders holding physical certificates will receive instructions from Continental Stock Transfer & Trust Company, the company's transfer agent, regarding the exchange of pre-split certificates. No action is required from shareholders regarding the name change. The company describes itself as a provider of agentic applications for business use, stating it serves more than 150,000 clients. Named accounts include Amazon, Dell, Salesforce, Aflac, Thermo Fisher Scientific, RBC Wealth Management, and Fitch Group.