Banzai International, Inc. (NASDAQ:BNZI) stock is trading higher on Tuesday after the company announced it entered into a definitive agreement to acquire OpenReel, a platform that enables businesses create branded video content. Here’s what you need to know.

What to Know: The acquisition is expected to drive Banzai’s 152% growth in trailing twelve-month revenue, which is projected to reach $10.9 million. Under the agreement, Banzai will acquire OpenReel for a total of $19.6 million, paid in Banzai stock or pre-funded warrants.

Banzai shares are currently trading on higher-than-usual volume at 50.67 million. The company’s average session volume over the past 100 days is 3.26 million.

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BNZI Price Action: At the time of writing, Banzai shares are trading 25.2% higher at $1.74, according to data from Benzinga Pro.

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