SEATTLE, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”) today announced that its Board of Directors has approved, and will submit for shareholder approval, a proposal to change the Company’s corporate name to “Parabolic Technologies, Inc.” (“Parabolic”). The Company believes that the future of enterprise software will be agentic applications that are net-beneficiaries of AI transformation, and it plans to focus on building, acquiring, and investing in those and related businesses. The Company will operate its current business units and continue to invest in the development of their AI features.
Previous"This change reflects where we believe the future of software is headed, and the path to strategic growth through investment in high potential businesses"Pending shareholder approval, the Company will operate under the d/b/a “Parabolic” and will continue trading on the Nasdaq Capital Market under the new ticker symbol PARA. The Company plans to seek shareholder approval to change its legal name to Parabolic Technologies, Inc. at a future shareholders’ meeting. The Company has launched its new website at www.parabolic.io.
Concurrently with the proposed rebranding, the Company also announced a new business unit structure designed to align leadership and go-to-market execution with its evolved vision. The Company’s operations will be organized into three business units: ConnectAndSell, the Company’s AI sales acceleration platform, led by President and General Manager Jonti McLaren; Banzai, which will operate the Company’s Demio and OpenReel products, led by President and General Manager Matt McCurdy; and CreateStudio, an AI-powered video content creation platform, led by General Manager David Abrams, as previously announced by the Company.
“Our proposed name change to Parabolic represents more than a new brand. This change reflects where we believe the future of software is headed, and the path to strategic growth through investment in high potential businesses. Our continued aim is to build a business that delivers profitable growth both organically and strategically,” said Joe Davy, Founder and CEO of Banzai. “We look forward to sharing more with our shareholders as we move toward a vote on this proposal.”
In connection with the proposed name change, the Company intends to file a proxy statement with the U.S. Securities and Exchange Commission (the “SEC”) shortly and will call a special meeting of shareholders to vote on the proposal. The Company’s Class A common stock and warrants, which currently trade on the Nasdaq Capital Market under the ticker symbols “BNZI” and “BNZIW,” respectively, are expected to begin trading under new ticker symbols “PARA” and “PARAW,” respectively, on August 7, 2026.
About Parabolic
Parabolic builds agentic applications that power the future of business. Parabolic has over 150,000 customers including Amazon, Dell, Salesforce, Aflac, Thermo Fisher Scientific, RBC Wealth Management, and Fitch Group. Learn more at www.parabolic.io. For investors, please visit ir.banzai.io.
Important Additional Information and Where to Find It
In connection with the proposed name change, the Company intends to file a proxy statement with the SEC. This press release is not a substitute for the proxy statement that the Company will file with the SEC or any other document that the Company may file with the SEC in connection with the proposed name change. Before making any voting decision, the company's shareholders are urged to read the proxy statement and all other relevant documents filed or to be filed with the SEC in connection with the proposed name change, as well as any amendments or supplements to those documents, carefully and in their entirety when they become available because they will contain important information about the proposed name change. Shareholders will be able to obtain a free copy of the proxy statement, as well as other filings containing information about the Company, without charge, at the SEC's website (http://www.sec.gov) once such documents are filed with the SEC, or by directing a request to the Company's investor relations department.
Participants in the Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company's shareholders in connection with the proposed name change. Information regarding the Company's directors and executive officers, including a description of their direct or indirect interests in the proposed name change, by security holdings or otherwise, will be set forth in the proxy statement when it is filed with the SEC. Free copies of these documents may be obtained as described in the preceding paragraph.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding the proposed name change to Parabolic Technologies, Inc. and the anticipated timing and effects thereof; the realignment of Banzai's operations into the ConnectAndSell, Banzai and CreateStudio business units and the anticipated benefits thereof; Banzai's ability to successfully operate its business and provide value to stockholders; Banzai's future financial, business and operating performance and goals; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to Banzai's industry, outlook and market trends; and plans, strategies and expectations for increasing revenue, reducing costs and executing growth initiatives. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industries in which Banzai operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which Banzai operates, the financial markets, economic, business and regulatory factors, the risk that shareholders may not approve the proposed name change, and other factors, such as Banzai's ability to execute on its strategies. More detailed information about risk factors can be found in Banzai's Annual Report on Form 10-K and other reports filed by Banzai with the Securities and Exchange Commission. Banzai does not undertake any duty to update forward-looking statements after the date of this press release.
Investor Relations
Dean Ditto
Chief Financial Officer, Banzai
206 414-1777
ir.banzai.io
Media
Paul Witkowski
Senior Director Financial Reporting, Banzai
[email protected]