Banzai International, Inc. (PARA) · Oct 30, 2026 · Delisting
Delisting determination — $1 bid-price failure; no compliance period after cumulative 1-for-2,000 reverse splits
Parabolic Technologies received a Nasdaq delisting determination after repeated reverse splits failed to restore compliance, while shareholders approved more issuance capacity.
Parabolic is trying to reposition its MarTech software business around three units—ConnectAndSell, Banzai’s Demio and OpenReel products, and AI video platform CreateStudio—while pursuing cost savings and a broader AI applications strategy.
The listing problem is now formal and immediate. Nasdaq determined that the company failed the $1.00 minimum bid-price rule after trading below that level for 30 consecutive business days. The more serious point is that the company is not eligible for the normal 180-day cure period because it has completed multiple reverse splits, including a 1-for-10 split on October 27, 2026, producing a cumulative 1-for-2,000 ratio. 〔0〕
The hearing is a stay, not a solution. The company plans to appeal, and a timely request would prevent the planned November 5 suspension while the Nasdaq panel considers its case. 〔1〕 But the filing gives no assurance that the panel will allow continued listing or that another compliance period would work, so the event materially weakens the company’s operating and financing position even before any final delisting.
The shareholder approvals improve financing flexibility but also point toward dilution. Investors approved increasing authorized shares from 350 million to as many as 850 million, plus potential issuance for a public offering and conversion of the Evergreen note and warrants. 〔2〕 These approvals are not themselves a financing, but they give the company more room to raise capital or settle securities in stock—an important fallback as Nasdaq status becomes uncertain.
Bottom line: This is a genuine setback to the company’s transition: the latest reverse split did not restore Nasdaq compliance, and the usual cure period is unavailable. The appeal may buy time, but it does not remove the delisting risk or the likely need for additional capital actions.
Nasdaq hearing request due November 3, 2026
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