Blaize Holdings (see Pulse 2.0 profile here), a provider of programmable and energy-efficient edge AI computing solutions, announced that it 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 involving common stock and warrants. The transaction is expected to close on November 12, subject to customary closing conditions.
The company plans to use the proceeds for working capital and general corporate purposes. This includes advancing the commercialization of the Blaize AI platform in markets where demand is increasing, as well as continuing the development of the company’s next-generation chip.
As part of the agreement, the company is selling 9,375,000 shares of common stock at $3.20 per share and issuing warrants to purchase an additional 9,375,000 shares of common stock. The warrants have a five-year term and an exercise price of $5.00 per share. Polar will also receive the right of participation in certain future capital raising transactions for one year, subject to stated limitations.
The company expects that the PIPE proceeds, along with amounts available under its Committed Equity Facility with B. Riley and expected customer receipts, will support core operations into the second half of 2026, excluding investments in the next-generation chip program.
Blaize also announced preliminary financial results for the three months ended September 30, 2025. The company expects to report revenue of approximately $11.9 million, a net loss of roughly $26.3 million, and an Adjusted EBITDA loss in the range of $11 million to $12 million. During the quarter, the company shipped its first products to Starshine Computing Power Technology Limited. It recognized approximately $10.4 million of revenue related to the shipment, with $1.6 million received in cash to date.
These preliminary results were prepared by management and are subject to change as the company completes its quarterly financial closing procedures. They are not necessarily indicative of results for future periods.
Support: Craig Hallum served as lead placement agent for the transaction, and DA Davidson served as co-lead placement agent.
KEY QUOTES:
“Polar Asset Management Partners is a marquee institutional investor with deep understanding of AI and strong alignment with Blaize’s long term vision to power real-world intelligence at the edge. This financing further strengthens our balance sheet and demonstrates the continued investor confidence in our commercialization opportunities and platform expansion across key global markets.”
Dinakar Munagala, Co-Founder and CEO, Blaize
