Banzai International, Inc. announced it will change its corporate name to Parabolic Technologies, Inc. and will effect a 1-for-10 reverse stock split of its Class A and Class B common stock. Both actions, approved by shareholders on October 16, 2026, are expected to be effective for trading on The Nasdaq Capital Market at the market open on October 27, 2026.
Key Details
- Reverse Stock Split: The 1-for-10 split is primarily intended to increase the per-share price and maintain compliance with Nasdaq's minimum bid price requirement. Trading on a split-adjusted basis begins October 27, 2026.
- Name & Ticker: The company's name will change to Parabolic Technologies, Inc. Its Class A common stock will continue to trade under the ticker symbol "PARA".
- Share & CUSIP Update: Post-split, outstanding Class A shares will be reduced from approximately 5.06 million to 506,121. A new CUSIP number (06682J803) has been issued for the stock.