Blaize Holdings SEC Filings

Blaize Holdings, Inc. updates its prospectus covering 89,550,141 shares of common stock, 898,250 warrants and 29,698,250 shares of common stock issuable upon exercise of warrants.

The company explains that during the first nine months of 2025, 70% of revenue came from one Asia Pacific customer that is not a related party, and 20% came from a related-party customer in North America, all from hardware and software product sales. In 2024, 98% of revenue came from two related-party customers and was largely from services contracts that have now expired, as Blaize shifts toward product and professional services revenue.

Blaize also describes a Purchase Order Contract Agreement in the Persian Gulf region, under which it may supply equipment and services for consideration of up to $104.0 million, but notes that as of November 28, 2025 it has not shipped products or received payments and that deployment timing and field trial success are not guaranteed. Separately, a fee dispute with Jefferies LLC relating to the Blaize business combination progressed through New York state court, and Blaize and Jefferies settled the matter on November 30, 2025.

Blaize Holdings, Inc. updates its resale registration covering 20,326,158 shares of common stock offered by a selling stockholder and 769,231 shares offered by Cantor. The company explains that in the first nine months of 2025, one non‑related Asia-Pacific customer provided 70% of revenue and one related North American customer provided 20%, all from hardware and software sales, highlighting significant customer concentration.

The filing describes a Purchase Order Contract Agreement in the Persian Gulf region with potential consideration of up to $104 million, but notes that as of November 28, 2025 no products have been shipped and no payments received, and there is no guarantee field trials will be successful. It also discloses that a fee dispute with Jefferies LLC relating to the Blaize business combination, in which Jefferies sought several million dollars in fees and expenses, was settled on November 30, 2025. The company’s common stock and warrants trade on Nasdaq under “BZAI” and “BZAIW.”

Blaize Holdings, Inc. filed Prospectus Supplement No. 7 to update its S-1 with its Q3 2025 Form 10-Q. The registration statement covers 89,550,141 shares of common stock, 898,250 warrants, and 29,698,250 shares issuable upon exercise of warrants. The supplement incorporates recent financials and disclosures.

For Q3 2025, revenue was $11.867 million, and the net loss was $26.258 million. Cash and cash equivalents were $24.0 million as of September 30, 2025. Management disclosed that liquidity conditions raise substantial doubt about the company’s ability to continue as a going concern. As of November 6, 2025, shares outstanding were 110,988,152. Blaize’s securities trade on Nasdaq as “BZAI” and “BZAIW”; on November 12, 2025, the closing prices were $2.61 per share and $0.58 per warrant.

Blaize Holdings, Inc. filed Prospectus Supplement No. 2 to its S-1, covering the resale of 20,326,158 shares of common stock by a selling stockholder and 769,231 shares by Cantor. The supplement incorporates the company’s Form 10-Q for the quarter ended September 30, 2025.

In Q3 2025, revenue was $11,867 thousand versus $781 thousand a year ago, driven mainly by hardware shipments, while the company reported a net loss of $26,258 thousand. For the nine months, revenue totaled $14,856 thousand with a net loss of $203,608 thousand. Cash and cash equivalents were $24,001 thousand as of September 30, 2025, and management disclosed that liquidity conditions raise substantial doubt about the company’s ability to continue as a going concern.

As context, shares outstanding were 110,988,152 as of November 6, 2025; this is a baseline figure, not the amount being offered. Blaize’s common stock and warrants trade on Nasdaq as BZAI and BZAIW, which closed at $2.61 and $0.58 on November 12, 2025.

Blaize Holdings (BZAI) filed its Q3 2025 10‑Q, showing rapid top‑line growth alongside heavy losses and a going‑concern warning. Revenue rose to $11.9 million for the quarter, up from $0.8 million a year ago, driven mainly by hardware sales, including related‑party transactions. Gross profit was $1.8 million, but operating expenses of $24.4 million led to a loss from operations of $22.6 million. Net loss for the quarter was $26.3 million; for the nine months, net loss reached $203.6 million.

Cash and cash equivalents were $24.0 million as of September 30, 2025, down from $50.2 million at year‑end, and management disclosed that liquidity conditions raise substantial doubt about continuing as a going concern. The company entered a $50.0 million Committed Equity Facility with B. Riley on July 14, 2025 and issued shares under it during the quarter. Post‑merger balance sheet cleanup removed prior convertible notes and warrant liabilities, bringing total liabilities to $59.6 million and stockholders’ equity to $1.3 million. Shares outstanding were 110,988,152 as of November 6, 2025.

Blaize Holdings, Inc. (BZAI) furnished quarterly results. The company reported that it issued a press release announcing results of operations for the quarter ended September 30, 2025, and furnished it as Exhibit 99.1 to an 8-K. The company states this information is being “furnished,” not “filed,” and therefore is not subject to Section 18 of the Exchange Act and is not incorporated by reference unless expressly stated.

Blaize lists its securities on Nasdaq as common stock (BZAI) and warrants (BZAIW), with each whole warrant exercisable for one share at an exercise price of $11.50 per share.

Blaize Holdings (BZAI) announced a private placement with affiliates of Polar Asset Management Partners. The Company agreed to sell 9,375,000 shares of common stock at a purchase price of $3.20 per share and issue 9,375,000 five‑year warrants, immediately exercisable at an exercise price of $5.00 per share, for aggregate gross proceeds of approximately $30.0 million, before expenses.

The Company plans to use net proceeds for working capital and general corporate purposes, including commercialization of the Blaize AI platform across key growth markets and continued development of its next‑generation chip. Polar received a one‑year right of participation in future capital raises, subject to exceptions. Blaize also entered into a registration rights agreement to file a registration statement covering the resale of the shares and the shares underlying the warrants.

Blaize Holdings (BZAI) reported an insider transaction by Chief Executive Officer and Director Dinakar Munagala. On April 21, 2025, he disposed of 2,000 shares of common stock with Transaction Code G at a reported price of $0.

Following this transaction, his beneficial ownership was 4,344,696 shares. This figure includes 1,371,303 Earn-Out Shares, each representing a contingent right to receive one share if the company’s stock trades above specified thresholds.