Banzai International, Inc. has announced a corporate name change to Parabolic Technologies, Inc., effective at the market open on October 27, 2026. The company also disclosed a 1-for-10 reverse stock split of its Class A and Class B common stock, which shareholders approved at a special meeting held on October 16, 2026.
The reverse stock split is intended to increase the per share price of the Class A Common Stock and maintain compliance with Nasdaq listing requirements. The split will be effective at the opening of business on October 27, 2026. As a result of the split, every ten shares of common stock will be combined into one share. The total number of outstanding shares will be reduced from approximately 5,061,208 Class A shares and 149,821 Class B shares to 506,121 Class A shares and 14,983 Class B shares, based on the count as of October 21, 2026.
No fractional shares will be issued; any fractional shares resulting from the split will be rounded up to a whole share. The Class A Common Stock will continue to trade under the symbol "PARA" on the Nasdaq Capital Market and will be assigned a new CUSIP number, 06682J803. The reverse split will also affect the number of shares available for issuance under stock options and warrants, with corresponding adjustments made to the aggregate exercise prices of these instruments.
In addition to the reverse split, shareholders approved an amendment to the company’s 2023 Equity Incentive Plan. The amendment increases the number of shares reserved for issuance by 787,425 shares and raises the evergreen provision from 5% to 7.5% per year. The company also received approval to change its legal name from Banzai International, Inc. to Parabolic Technologies, Inc., a change that was filed with the Secretary of State of Delaware on October 16, 2026.
