The SPAC in December announced a merger agreement with Banzai International, an end-to-end video engagement platform for marketing, in a deal valued at $380 million, with the target due to receive $230 million the SPAC held in trust at the time. Since then, redemptions have claimed nearly 78% of the 7GC trust.
The extension, if approved, would move the SPAC's June 28 termination date back to Dec. 28. Read more.
Source: 7GC & Co. Holdings Postpones Extension Vote