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7GC & Co. Holdings announced a postponement of its special meeting, now set for December 21, 2022, at 3:00 p.m. Eastern Time. The record date remains November 21, 2022. Stockholders can vote even if they sold shares afterward. The deadline to redeem Class A common stock shares has been extended to December 20, 2022. To address potential excise tax liabilities from redemptions, the sponsor will indemnify the company. If the extension proceeds, $900,000 or $0.18 per outstanding share will be deposited into the Trust Account.
Banzai International and 7GC & Co. Holdings have entered a definitive agreement for a business combination, with Banzai set to become publicly traded.
The post-transaction enterprise value is estimated at $380 million, including $207 million in cash and a $100 million equity facility from GEM.
Banzai’s acquisition of Hyros for approximately $110 million aims to enhance its digital marketing capabilities, while the video engagement market is projected to grow significantly by 2030.
7GC & Co. Holdings Inc. (NASDAQ: VIIAU) announced that starting February 12, 2021, unit holders can separately trade Class A common stock and warrants from its IPO. The stocks will trade under the symbols VII for Class A common stock and VIIAW for warrants, while units will continue trading as VIIAU. No fractional warrants will be issued. The company is a blank check entity formed for merging with businesses, primarily targeting the technology sector. This announcement does not constitute an offer to buy or sell securities.
On December 22, 2020, 7GC & Co. Holdings Inc. priced its upsized IPO at $10.00 per unit, totaling 20 million units, to be traded on Nasdaq under the symbol VIIAU. Each unit includes one share of Class A common stock and half a redeemable warrant, with warrants exercisable at $11.50 per share. The offering is set to close on December 28, 2020. The company, focused on technology sector mergers, has granted underwriters a 45-day option for an additional 3 million units.
