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Investing.com -- Blaize Holdings Inc (NASDAQ:BZAI) stock fell 15.1% Tuesday after the edge AI computing company announced a $30 million private investment in public equity (PIPE) transaction with Polar Asset Management Partners.
The deal involves selling 9,375,000 shares of common stock at $3.20 per share, along with warrants to purchase an additional 9,375,000 shares with a five-year term and an exercise price of $5.00. The transaction is expected to close on November 12, subject to customary conditions.
Blaize plans to use the proceeds for working capital and general corporate purposes, including advancing commercialization of its AI platform and continued development of its next-generation chip. The company stated that the financing, combined with its existing Committed Equity Facility and anticipated customer receipts, should fund core operations into the second half of 2026.
"This financing further strengthens our balance sheet and demonstrates the continued investor confidence in our commercialization opportunities and platform expansion across key global markets," said Dinakar Munagala, co-founder and CEO of Blaize.
The company also released preliminary third-quarter results, expecting to report revenue of approximately $11.9 million, with a net loss of approximately $26.3 million and adjusted EBITDA loss between $11 million and $12 million for the period ended September 30, 2025.
Notably, Blaize shipped its first products to Starshine Computing Power Technology Limited during the quarter, recognizing revenue of approximately $10.4 million, though it has only received about $1.6 million in cash to date.
Craig-Hallum acted as lead placement agent for the offering, with DA Davidson serving as co-lead placement agent.
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