Blaize secures $30 million funding led by Polar Asset Management

Edge AI computing company Blaize Holdings Inc. (NASDAQ: BZAI, NASDAQ: BZAIW) announced it has entered into a securities purchase agreement with Polar Asset Management Partners to raise approximately $30 million in gross proceeds through a private investment in public equity transaction.

The transaction involves the sale of 9.375 million shares of common stock at $3.20 per share, along with warrants to purchase an additional 9.375 million shares with a five-year term and exercise price of $5.00. The offering is expected to close on November 12, subject to customary closing conditions.

Blaize reported preliminary third quarter results, expecting revenue of approximately $11.9 million and a net loss of approximately $26.3 million. The company also expects an adjusted EBITDA loss between $11 million and $12 million for the quarter ended September 30, 2025.

The company shipped its first products to Starshine Computing Power Technology Limited during the third quarter, recognizing revenue of approximately $10.4 million and receiving approximately $1.6 million in cash to date.

Blaize stated it intends to use the net 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 expects the proceeds, combined with existing funding sources, to fund core operations through the second half of 2026, excluding next-generation chip investments.

Craig-Hallum served as lead placement agent for the offering, with DA Davidson acting as co-lead placement agent. The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States except pursuant to an effective registration statement or applicable exemption.

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