7GC & Co. Holdings Inc. (VII) Postpones Extension Vote

7GC & Co. Holdings Inc. (NASDAQ: VII) announced this afternoon that its special meeting, which was originally scheduled for June 20, will be postponed to 12:00 p.m. ET on June 26.

The company is currently facing a completion deadline of June 28 as it works to close a deal, but intends to extend this until December 28, or such earlier date as determined by the board of directors.

In connection with the postponed meeting, 7GC & Co. has extended the redemption deadline to 5:00 p.m. ET on June 22.

In December 2022, the SPAC entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million. VII originally raised $230 million in total proceeds from its IPO, but saw 77.93% of its trust removed due to redemptions at a previous meeting. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model.